Gosling's Grouse: Why the industry needs a more grown-up approach to hospitality

The term 'inducement' is being used as a substitute for the word 'bribe', and yet it seems unthinkable any adviser places business purely as a 'thank you' for a day at the cricket, writes Lawrence Gosling.

A few weeks ago, the pharmaceutical industry published its database of the money it paid to the medical sector, which amounted to the princely sum of around £350m in 2015. Some of it was to help with the cost of research, which the pharma companies are undertaking. Some of it was to pay for travel and accommodation to conferences, or professional advice. Interestingly, participants on the database can elect to keep their names anonymous if they want, and it is easy to see why - some can effectively double their salary through these payments, all of which are legal and above board. ...