Robust suitability process best way to ensure client trust - Finametrica

Resnik (pictured) said compliance with regulation was the minimum standard advice firms should be aiming for and that trust was the optimum goal. "Regulation is at such a low level you diminish your businesses integrity by targeting that level," he explained. "It is better to say I want to be trusted - trust is the premium. And I would argue that suitability is a synonym for trust." He highlighted a recent report from Vanguard, focusing on trust and financial advice, which found of those who were satisfied with advice, 97% also had high trust in their intermediary. Similarly, those...