PA360: Clients' lack of understanding of advice value is 'concerning'

‘Anyone running a business needs to offer value to their clients’

Sahar Nazir
clock • 1 min read

Advice firms should be “concerned” if their clients do not know what value means when receiving advice, according to Royal London senior intermediary development and technical manager Justin Corliss.

Speaking at PA360 today (25 April), Corliss highlighted the firm's Meaning of Value 2023 report with The Lang Cat and said nearly 15% of clients said they "do not know" what value means in financial advice. "That is concerning," Corliss told delegates. "Value is an interesting concept. Anyone running a business needs to offer value to their clients. However, value is subjective. "Advice is expensive, but to say something is too expensive without any context, it means that some people may feel the end does not justify the means for financial advice." Furthermore, Corliss said it is ...

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