Late last year, KAS Bank appointed Dr Chris Sier as its UK Managing Director. It was a statement of intent and taken so those of us who have hoped to see the scales fall in favour of the consumers of financial services
There has never been so much money in funds, yet in 2013 KAS Bank recorded a one basis increase in the amounts taken by fund managers at the expense of the beneficiaries. So much for the technology dividend!
Last night Chris was able to lay down his agenda, it could be summed up by the word “transparency”. For some time he has been on the hunt for reliable data to understand where the money is leaking away. When scraps have come his way, he has been muzzled.
But last night he beamed like the kid with the keys to the tuck shop! I really wish him luck as he digs into the spreadsheets of data he has been presented with by the Dutch Regulators.
Some of his findings may be on display when the FCA host a discussion on Friday morning. Things are moving fast and in the right direction.
We take our hats off to KAS, a custodial bank who have placed integrity and independence above short-term profit.
They produce great thought leadership and are inspirational to those of us struggling to create new product to meet the demand for pension freedoms.
And they know how to party- not with the brash opulence of some of their bigger rivals but with the kind of hospitality that makes you want to work with these fine people.
Normally I’d publish a few party pics but I’ve decided to turn over a new leaf !
Thanks KAS- keep up the great work and here’s to a happy new year