IFAs must 'do more' to manage client expectations - OBSR

Speaking at a Cofunds' Low Risk Investing roundtable, Richard Romer-Lee, research director of OBSR, warns some advisers do not take their clients’ aspirations seriously enough and need to do more to manage their expectations in line with their risk appetite. He believes un-savvy investors are prone to irrationality and greed and it is the adviser’s job to qualify risk, especially when consumers are being seduced by increasingly complex product offerings. Romer-Lee says advisers should have a contract outlining what they are trying to achieve for a client.  “It should say they will prote...