Informed Choice executive director Nick Bamford has dismissed the idea that advisers can produce "better" investment performance for clients, saying what he offers is "suitability" not shoot out the lights returns.
Bamford (pictured) made the comment at a Morningstar conference in response to research from the ratings agency which found that the vast majority - 46% - of investors asked said better investment returns are the main reason they go to an adviser. Bamford said "honest" advisers will say they "can not produce [that]". "I would fire anyone at my business who said they could get better investment returns. What does 'better' mean? "That's the area where you will have a mis-match between advisers and clients," he added. Informed Choice is "all about suitability", he said, though he admi...
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