Adviser impartiality beats qualifications - consumers

The report by JPMorgan Asset Management (JPMAM) found only one in ten respondents was concerned by an adviser’s lack of knowledge or expertise, with just 19% saying evidence of professional qualifications would encourage them to seek advice more. In stark contrast, 69% cited concerns that product recommendations might be motivated by an adviser’s relationship with a product provider. The findings are at odds with a key part of the FSA’s Retail Distribution Review (RDR), which is expected to include a benchmark qualification level for all UK financial advisers. “With regard to professi...