The mighty St James’s Place juggernaut seems to defy negative forces as the number of advisers working for it grows and grows.

I’ve often wondered exactly how many people regularly use an IFA and now we know - it’s about 8%, at least of the key so-called Generation X segment of the population, the important 39-54 year-olds.

I remember a few years back when I worked at another media business that we had a presentation from a senior bod about the exciting technological future awaiting the company.

Just before Christmas I suggested that the FCA needed a new direction post-Bailey. It may already have found one although it is clearly not the direction everyone wants.