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The government plans to decrease red tape in insolvency which is welcome. Areas such as online reports and uneconomic dividends are on the agenda (more details here). However less welcome is the inclusion of Partial Licensing in the Deregulation bill (more here).

Insolvency practitioners are qualified and experienced professionals and need to give commercial and best advice. How does someone qualified only in personal insolvency advise a director in personal financial distress? Or a corporate practitioner advise a company where the directors have personal debt issues also?

It is all very well at low consumer levels but debtors at those levels are catered for with free advice from IPs, CABs, money advice etc. Creating a raft of part-qualified advisors will encourage charging in that consumer market which penalises those in most need. And, if not charging at those levels, the part-qualified may be tempted to stray beyond their skill set to stay in business.

Don't dumb down the profession. It caters for those without means already by offering free initial advice to point people in the right direction and tell them their range of options. If you were investing your savings would you want a financial adviser who only sold ISAs, or one who knew the best options and risks of each investment type for your own circumstances?

Frances Coulson (

This is intended for general information only and should not be considered as giving advice in relation to any individual case nor be taken as applying to any particular case. No liability is accepted for any such use of the information.


Standout firm known for its personal insolvency work for clients including private companies, individuals and governmental institutions. Frequently acts for insolvency practitioners, assisting with the realisation of assets, both in the UK and abroad.

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