GDPR and financial advice: Consent for marketing

As we have discussed before, there are two high-level types of consent firms need to consider: consent to process data and consent to market to a data subject. When thinking about marketing it is important to understand not all communication to data subjects is classified as marketing, especially when we consider communication to existing clients. Let's explore that in more detail. The table below outlines the three client scenarios a financial advice firm could find itself in. Let's assume a firm has three clients, all of whom have pensions and ISAs under management by the firm. When...