'Personal purpose' must be embedded into advice firm culture

‘It is at the heart of advice, yet I don’t see firms talk about it clear enough’

Isabel Baxter
clock • 2 min read

Consumer Duty is a ‘fundamental culture shift’ so advisers must ensure their firm’s culture meets the standards, delegates heard.

Speaking at the Personal Investment Management & Financial Advice Association's Consumer Duty Conference today (28 February), KPMG financial services people consulting Katie Paton discussed how firms can evidence a client centric culture. The key elements to driving a customer centric culture include personal purpose, mastery, autonomy, psychological safety, and environment, according to Paton. "Personal purposes are at the heart of advice, yet I do not see firms talk about it clear enough," she said. "A client centric culture can first be created by coaching and spending time with...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

Majority of advisers have segmented client base

Majority of advisers have segmented client base

‘We try and offer advice fairly to all of our segments’

Isabel Baxter
clock 19 April 2024 • 2 min read
Justine Randall: There has never been a better time to be an IFA

Justine Randall: There has never been a better time to be an IFA

Number of advisers not high enough to service client demand

Jenna Brown
clock 18 April 2024 • 2 min read
Is your advisory firm menopause-friendly? Five key areas of focus

Is your advisory firm menopause-friendly? Five key areas of focus

Why it makes business sense to talk about menopause

Jenna Brown
clock 17 April 2024 • 3 min read