FCA’s Ritchie Thomson joins Isio to grow its regulatory conduct business

Isio, one of the fastest growing investment consulting, wealth and pensions advisory firms in the UK, has appointed ex-FCA supervisory specialist Ritchie Thomson as a Strategic Advisor to its regulatory conduct business.

Ritchie’s FCA career spanned 20 years and saw him lead its supervisory work for the advice sector, including establishing the team overseeing defined benefit (DB) pension transfers and serving as the architect of its ongoing advice review, the findings of which were published last week.

At Isio, Ritchie will work closely with Andy Mewis and Ben Goodwin, who lead its Regulatory Risk & Rectification team, to broaden the business’s reach within the wider regulatory conduct and remediation space.

Andy created Deloitte’s pension regulatory conduct practice in 2015, specialising initially in reviews of DB pension transfer advice. Its scope expanded over time and, since the team joined Isio in 2023, it has seen increasing demand from advice firms grappling with section 166 reviews, Consumer Duty compliance and, more recently, anticipated fallout from the ongoing advice review.

Ritchie’s unique experience will add weight to the support Isio offers and it will leverage his expertise to advise clients on complex reviews, collaboration with regulators and managing risk. He will play a key role in developing strategies to address contingent liabilities in past advice books, overseeing reviews relating to high risk products such as DB pension transfers, and advising on new and emerging conduct risks, such as the FCA’s Motor Finance Review.

Andy Mewis, Partner at Isio commented: “Ritchie’s appointment strengthens our Regulatory Risk and Rectification team at a pivotal time for the industry. His expertise in regulatory projects and past business reviews will be invaluable in helping our clients navigate the FCA’s evolving expectations. With Ritchie on board, we can further support clients in assessing their ongoing advice delivery, addressing potential gaps, and ensuring compliance with Consumer Duty requirements.”

Ritchie Thomson, Strategic Advisor at Isio said: “I’m delighted to join Andy and the team at Isio at such an exciting time for the business. Regulatory expectations are evolving rapidly, and I’m looking forward to leveraging my experience to help our clients navigate complex regulatory challenges and ensure they remain compliant while delivering strong outcomes.”  

Ben Goodwin, Head of Regulatory Risk & Rectification at Isio commented: “We are committed to growing our business in the wider regulatory conduct and remediation space. Ritchie’s arrival is particularly timely as firms look to consider their next steps following the FCA’s recent publication on the findings of the review into Ongoing Advice Services”.