'Danger' for advisers who think poor conduct is not relevant to them

‘You cannot rely on people deciding what to do in the moment’

Hope Coumbe
clock • 1 min read

It is not realistic for an adviser to be unprepared for something to go significantly wrong for them at some point in their career, lawyer Philippa Hann says.

Speaking at the Personal Finance Society's ‘How to avoid financial advice going wrong' webinar today (27 March), the Clarke Willmott partner said advice firms need to dedicate more time to planning how they will handle a bad situation. "A lot of the time we sit there thinking we must do things in a certain way – ‘we must send the suitability letter at some point' or ‘we only want to deal with clients of this sort of value'. What we don't do enough of is sitting down to think ‘what do we do if something goes wrong'." Hann warned advisers of the danger in assuming poor conduct that coul...

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