MKC Wealth, a London-based adviser founded by ex-Quilter executives, has linked the pay of its staff, including the chief executive (CEO), directly to client feedback.
The firm was re-launched by former Quilter directors Dominic Rose and Nigel Speirs in 2021 after a management buy-in. Rose, the firm's CEO, said he took the lead on the feedback-related pay initiative from the Financial Conduct Authority's (FCA) incoming Consumer Duty rules. The Consumer Duty requires advice firms to put customers at their heart. Central to this is the need to promote and monitor customer understanding and good outcomes. The FCA recommends collecting client feedback to help with this. MKC Wealth CEO Rose, said just collecting feedback was not enough, and was "poin...
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