Firms told they are 'too focused' on numbers rather than services

Industry experts gathered to discuss challenges posed by Consumer Duty

Sahar Nazir
clock • 2 min read

Firms are “too focused on numbers without considering the services they provide,” industry experts have said.

Speaking at the Personal Investment Management & Financial Advice Association's Compliance Conference 2023 yesterday (21 September) experts agreed firms should focus not only on numbers but also on the quality of services they provide to clients following the implementation of the Consumer Duty regulation earlier this year (31 July). City Asset Management risk and compliance officer Tracy Coghill highlighted the industry's capacity to measure client outcomes, stating that it could offer a "tremendous amount of resource" for this purpose. This perspective underscored the need for a more b...

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