Compliance-focused adviser generation 'lost the human touch'

‘Now there's soft skills training but advisers naturally did it back then’

Isabel Baxter
clock • 2 min read

The introduction of compliance in the 1990s has bred a generation of advisers who now need to be trained on the ‘human element’ of advice, PlanHappy founding chief executive Neil Parker says.

Speaking on a recent episode of the NextGen Planners Podcast, Parker explained that even before the regulator cracked down on compliance and tightened required documentation, advisers were still getting to know the community they were in and saw every client every week. "You knew everybody and everything about them." When regulation the came in the nineties, the fact find was born and therefore compliance was born, Parker noted. "Even though the reality was advisers then did know their client, we just couldn't demonstrate it in a written format." Due to this, the industry bred a...

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