Banks told: Advice is not about sales targets

Addressing the British Bankers' Association in London today, Martin Wheatley alluded to recent mis-selling scandals, particularly those which targeted the elderly and vulnerable. "When our customer looks to you for investment advice, it should never be just an opportunity for your adviser to see their sales commission looking back at them rather than an actual customer with real needs," he said. "What our customer expects is for your adviser to look at their personal circumstances, what their goals and aspirations are, and how much they're prepared to risk and then come up with someth...