The death of the middleman could restore trust in the financial industry

New ways of investing are cutting out the middleman. That's great news, says Merryn Somerset Webb. It should make things cheaper, and help restore trust in the financial industry.

Will we ever trust the financial industry? The obvious answer is that we will not. How can we, when the first thought of every financier looking to create a new product is about how he can muddy the waters so we won't notice how much we are being ripped off?

But I think we might have reached our trust trough. It's all about the end of the middleman.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.