GDPR and financial advice: Processing data on children

Ramifications for advice firms

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Rob Walton: "Unlikely as it may be that a 13-year-old will be signing up for newsletters from financial advisers, advice firms will still be processing large amounts of data on under-13s."
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Rob Walton: "Unlikely as it may be that a 13-year-old will be signing up for newsletters from financial advisers, advice firms will still be processing large amounts of data on under-13s."

In the next of a new series of articles based on the latest meeting of the Intelliflo GDPR Working Group on GDPR's ramifications for financial advice firms, Rob Walton considers the processing of data on children

A key part of the financial advice process is advising families on their finances and, obviously enough, this often includes dependants of the person or persons to whom the advice is being offered...

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