Was this the biggest moment of the year?

Dominic Thomas
Post written: March 2026  •  Post published: May 2026
4 min read

Was this the biggest moment of the year?

We are all aware that all is not well in our own nation. You are right, society does need to change, but possibly not for the reasons you think. This is a political piece, it may offend you, that is not my intention.

As yet another person is murdered by ICE, and the Trump Government lie about it, attempting to justify extreme violence towards an ordinary person like you and me, calling the individual a domestic terrorist (again) as part of their plan to remove opposition or dissenting voices through intimidation, arrest and execution.

It is the total lack of remorse, accountability or integrity that is displayed. These people are who they show themselves to be, as much as some wish to pretend otherwise, they are fascists and they won’t stop grabbing power and wealth until they are ended and it won’t be by “democratic means”.

Here in the UK, thankfully we don’t have anything like the same level of weapons or guns, but remember the Reform leader and his candidates invariably support Trump or Putin in their authoritarian approach. They don’t condemn heinous crimes by them, in fact they want their own version, they want to copy it and they push false narratives about anyone not white. If anything, their push for Brexit and independence has made us more vulnerable and isolated.

I understand why poor people might feel unheard, disrespected, ignored and don’t seem to have many prospects in life, want change – but they are being lied to, that this has anything to do with skin colour or religion or people fleeing war, starvation and persecution. How things appear often isn’t how they actually are. It is the structure of society and the truly wealthy and multinational companies not contributing a fair share to the social pot. The marches and the flags are attempts to be seen, but are also designed to intimidate and threaten. This is deeply wrong and racist and not what Britain is. Our flag should be something to gather around in celebration of what we are today, not stolen by white nationalists trying to tell us what we are not. Epsom take note.

Those who are ‘well off’ (our clients) have money and financial security, with connections and a sense of place in society. Many of you pay a lot in tax, some of which I would agree is desperately unfair. However, as noted in Spotlight, tax rates are actually lower than they were 40 years ago. Our top rate of tax is 45%.

None of us like to see our money wasted, yes it is easy to spend other people’s money, yes you are not thanked properly, yes we have to acknowledge that you need to look after your own, the tax system isn’t good, it’s far from simple and far from perfect, I know that very well, but it’s that which needs to change, not simply to cut away from those who need our support so that we can have a thriving and just society.

We need entrepreneurs who create jobs and wealth and are encouraged to do so, but this should not be at the expense of people. Nobody needs a billion, nobody. Those who feel hard done by that make a lot of noise in the media really should reassess their good fortune. We also need artists, poets, carers, thinkers, therapists, medics, engineers, designers and community leaders to inspire us to better. We need proper investigative journalists to bring corruption to light and the law to act justly. We need each other – wasn’t that the learned message from the pandemic?

You know that London isn’t a war zone, that actually it’s a thriving city, in fact you prosper as it does. The only shame I feel about London is the fact that we have homeless people. They need help. We are told that we pay tax to support lazy people, yet it’s these people (people like me and you) who can largely select our hours of work for a good income. Yet the irony is that these beliefs and arguments are very reductive lazy thinking.  Granted, we may have worked hard, but we had opportunities, tools, sufficient encouragement, health and even the setbacks were things we could overcome, we don’t work 2 or 3 jobs with vile employers just to be able to feed ourselves. We have not lost any rights or advantages other than those reduced by Brexit.

Racism isn’t always deliberate or obvious, it’s born through the gradual acceptance and accumulation of bad data. We all have unconscious biases and fears. It is the continual work of character formation that helps understand ourselves and change. Often we need confronting about what we presume. It doesn’t help when we are fed easy answers to difficult problems, (who doesn’t want easy solutions!) by people who have no intention of understanding, but merely regurgitating their own badly formed opinions.

Racists eventually hate any minority in any form because they are afraid of difference. Just because Reform has some women and some non-whites in view, does not mean that they want this, as ever, it’s a means to an end (power) and if once established, you will see the same regressive policies as in the US…(yes Donald Trump does the window dressing with plastic women, he’s a salesman) which at best is a gradual removal of economic and social independence, dismantling democracy, but ends with no jobs for women, increasingly reducing their freedoms (no say, no vote, no personal property) and of course removal of anyone who isn’t on board with the white replacement nonsense. This is deceitfully packaged at true patriotism, or traditional values or even ‘Christian’. This is what far right is. Any male with a mother, sister, aunt, wife, daughter, niece or female friend should think very carefully.

There will inevitably come a point where I won’t be able to see the good in those whose default position is to defend the indefensible racist garbage, where people are viewed as non-people.

These are dreadful individuals, vile – yes that’s Trump, Farage, Musk, Theil, Fox and those that platform them and their inner circle. They don’t care about society and certainly don’t care about you and me.

There is a heap of evidence about all this, it is deeply concerning and pretending that it’s not the same here is naive – look at the way American democracy is being rapidly destroyed, listen to Mark Carney. As he said in Davos:

“We know the old order is not coming back. We shouldn’t mourn it. Nostalgia is not a strategy, but we believe that from the fracture, we can build something bigger, better, stronger, more just. This is the task of the middle powers, the countries that have the most to lose from a world of fortresses and most to gain from genuine cooperation.”

Of course, Trump attempted to chastise Carney in his own ‘speech’, but as ever, he can barely string a few words together coherently. As Greenpeace say, if you are not part of the solution, you are part of the problem. Hating is never a solution and we have a diverse group of clients who we like and serve.

Carney video: https://youtu.be/JnE2HTfDivQ?si=dz7qygn4Dfmims0W

Was this the biggest moment of the year?2026-05-03T22:04:07+01:00

Has the sales pitch become the prompt?

Dominic Thomas
April 2026  •  3 min read

Has the sales pitch become the prompt?

One of the many criticisms of financial stuff is its inaccessibility – the jargon, terms, mathematics and mountains of tax rules that are embedded in ‘the system’ which seems stacked against the ordinary person. When I started in financial advice in 1991,  it was largely a world of sales people and administrators; some very well paid successful sales people and an awful lot of ‘failed’ salesmen with huge debts unable to make ends meet each month.

Training requirements were initially met within a few days, before you were unleashed on your audience, which for most of them was their personal address book. It was crucial to learn a sales script. Perhaps you met some of them – Milldon, Merchant Investors, Allied Dunbar, Cannon Lincoln, Laurentian and even ‘the man from the Pru’. This culture resulted in a lot of bad advice by commission-hungry salespeople and the result was lasting damage to trust and a massive increase in regulation.

Scroll forward three decades or so and our own training programme is three years (minimum) to become Diploma qualified and potentially a further seven years or so to become Chartered. Technical understanding has rightly brought about knowledge requirements. The number of ‘advisers’ has fallen from about 200,000 to around 27,000 – a reduction of nearly 90%.

It’s 2026 and ‘AI’ (a marketing term, not a thing) is still in its infancy since 1956, but already being used to offer up answers to technical questions. Unfortunately, being able to trust the accuracy of the answers is more than a little problematic (you shouldn’t). As with other forms of media, when your own field of expertise is covered in the news, you appreciate how poorly it is understood by those forming the questions and presenting their findings.

It doesn’t help that our culture celebrates the wealthy like Bill Gates, who offers opinions on any topic which sound authoritative; making unfounded and highly improbable claims about technology – in particular that it will replace doctors and teachers.

The noble intention of helping to democratise information is, it seems, deeply flawed, you really need to understand context and the question you are asking with implications that you aren’t aware need consideration.  We see this all the time, and politicians play the game, presenting baseless easy answers or raising common observations without any real depth of thought or application.

There are times that I wish I had known in 1991 what I know today, but it is the process of hard learning and building experience that are so vital when faced with real life matters. It’s also why our training of new advisers isn’t ‘high speed’. The temptation of AI is the speed of ‘learning’.  I have even been encouraged to offer you a better looking digital clone of myself to interact with you rather than build a team of people.

As the number of advisers has reduced and complexity increased (created by the sector, regulation and Government policy), the cost of advice and running an advisory firm has risen enormously. The salaries, software and tools have replaced self-employed advisers with a desk, phone and dictation machine.

‘Free’ AI tools and DIY services all, understandably, have appeal to many.  In fact as some will argue, the real goal of AI is to remove wages. However the thing that has been forgotten in this transition to adviser expertise is that money is deeply personal and financial planning is not about transactions, but about helping draw out deeply held beliefs, values, baggage, myth and aspiration and navigating the deliberately crafted landscape of a world filled with fear and greed.

It is the soft skills and critical thinking that have been largely ignored by regulation and a sector obsessed with numbers and speed. My concern with AI being widely used is that it is not designed to serve the interests of the individual posing the ‘prompt’. It largely is designed to remove as much human reflection as possible, whilst feigning understanding and nuance, whilst being steeped in bias. The real beneficiary of the AI answers are the owners of the technology, which is built on theft (data scraping) of other people’s work.

The pattern recognition system is ‘alive and well’ in flattering your ego with what you want to hear rather than what you need to hear. The problem is that we don’t appreciate how important this is until it’s too late.

It is the questions that we don’t know to ask, that we need to ask. This is where the human experience, actual reality, is so alive and necessary.

To be crystal clear, technology brings lots of helpful advantages, but it is a tool not a replacement for humans. It is not ‘better than nothing’; its far worse than nothing, particularly when ‘nothing’ is often an inexpensive book (or a free one in a library).

References:

The AI Con by Alex Hanna and Emily Bender. https://thecon.ai/ (don’t buy it from Amazon, that’s another story).

The history of AI and Eliza https://liacademy.co.uk/the-story-of-eliza-the-ai-that-fooled-the-world/

Bill Gates comments on AI: https://www.cnbc.com/2025/03/26/bill-gates-on-ai-humans-wont-be-needed-for-most-things.html

Retail Distribution Review: https://publications.parliament.uk/pa/cm201011/cmselect/cmtreasy/writev/rdr/m188.htm

50 Years of Regulation: FT Adviser (2016 David Severn): https://www.ftadviser.com/content/9de58b26-925f-522d-9bf7-faaf7feba22d

FSA Review of Polarisation (July 2000) https://londoneconomics.co.uk/wp-content/uploads/2011/09/106-Polarisation-and-Financial-Services-Intermediary-Regulation.pdf

HM Treasury FCA Financial Advice Market Review March 2016 https://www.fca.org.uk/publication/corporate/famr-final-report.pdf

How commission worked – Money Marketing (April 2001) https://www.moneymarketing.co.uk/news/out-with-the-old-in-with-the-new-style/

Money Marketing – The future of regulation (Simon Collins June 2022) https://www.moneymarketing.co.uk/opinion/financial-services-regulation/

FCA sector RMAR data 2024 (November 2025) https://www.fca.org.uk/data/retail-intermediary-market-data-2024  and data about adviser numbers: https://www.fca.org.uk/data/retail-intermediary-market-data-2024/retail-intermediary-market-interactive-analysis-2024#staff

FCA – The Mills Review The Impact of AI on financial services markets, a research initiative closing on 26 February 2026. https://www.fca.org.uk/publications/calls-input/review-long-term-impact-ai-retail-financial-services-mills-review#lf-chapter-id-your-thoughts-on-the-longer-term-impact-of-ai-on-retail-financial-services-

Solomons set up in 1999 without commission. https://www.solomonsifa.co.uk/financial-services-sector/

 

Has the sales pitch become the prompt?2026-04-21T15:09:30+01:00

What are the Twenty Lessons?

Dominic Thomas
April 2026  •  3 min read

What are the Twenty Lessons?

Most marketing people will advocate using a number as a way to increase engagement – seven ways to improve your marketing, five things you need to know about… and so on, as humans we seem to love a list, preferably a short one that’s a prime number. Timothy Snyder’s book On Tyranny has the subtitle “Twenty Lessons from the Twentieth Century” which caught my eye as worth my attention.

There is no denying that we live in challenging times, where truth has become harder to reach and there are so many powerful vested interests determined to treat us like mushrooms, kept in the dark and fed on…

Truth is a big deal in financial planning. It’s the partner of trust, without both – any advice provided needs some considerable investigation. My sector is not known for its transparency, trust or grasp of truth. We have powerful regulation which attempts to ensure that we are. Yet, over the last two decades in particular, I can attest to the fact that many of the advisers I meet are decent people, who are keen to share best practice, have a degree of vulnerability about their need to improve knowledge and admit that they don’t know everything. Most of those I meet, I believe to be trustworthy and genuinely want to help both advisers and clients to make money and investing better understood.

There is even a software package called “Truth” that aims to reveal the truth of your ambitions for your financial decisions.

Sadly, not all are truthful, many will claim to provide financial planning, but are really selling investments, building the engine before even knowing what is required. It’s not easy to tell from a website or indeed when you meet them. There are still a few who are only interested in extracting your wealth for their own benefit and they are occasionally caught.

Aside from the charlatans, who I can do little about, other than pay my regulatory fees which cover their failings and deal with the consequences of mistrust, my main concern is a lack of thinking. Not about products and tax legislation, or indeed sensible solutions, but the eagerness to embrace anything that appears to save time. It is easy not to think, to simply accept narratives of large, powerful players or persona’s and what they say from their platform.

It seems to me that good financial planning is all about helping uncover your values and helping you to achieve and maintain your lifestyle. The one you really want, not the one that vacuous individuals display for you to envy and strive for. All choices come with a consequence and there is a price for every decision – who you love, where you work, live, what you eat, how you exercise, what you read and so on. To pretend that political decisions have no bearing on these things is to fail to appreciate the fragility of the freedoms you currently enjoy, which are certainly under siege. The belief that taxes are always bad, that there are those who don’t deserve help, that we are all ‘self-made’ and need a heavy shot of ‘resilience’, is to miss the point and purpose of what it is to live as a human in a thriving, peaceful community, To be critical is not the same as to criticise.

We can all point to problems, but the real skill is to address root causes, invariably this is envy and greed. Something that is on constant display in our scrolling. Add in a dose of fear and mistrust, a sprinkling of inflammatory words and the rabbit hole opens up to swallow, perhaps consume.

In the context of a ‘good life’, we need a good society and a functioning democracy; something that it seems many advisers forget as they chastise yet another Chancellor whilst failing to pause to consider the source of their information. None of us get it right all the time, but an attitude of thoughtful reflection about vested interests is one that I encourage.

In this book, Snyder draws some uncomfortable lessons from history which have a very current application. He is under no illusions about the problems, but offers some thoughtful hope for facing what needs to be confronted. Snyder is a man who has committed his life to understanding the context of why we tend to war, how to spot the signs and what to do about it. Here are his twenty lessons.

 

 

What are the Twenty Lessons?2026-04-10T18:01:22+01:00
Go to Top