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...
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