Chris Davies: Why PRODing your clients is a good thing

Client segmentation

clock
Chris Davies: "Adviser firms now need to factor in client behaviours, their propensities to buy certain products, sensitivities to fees or market movements and, of course, aligning client risk profiling and capacity for loss with product risk profiles."
Image:

Chris Davies: "Adviser firms now need to factor in client behaviours, their propensities to buy certain products, sensitivities to fees or market movements and, of course, aligning client risk profiling and capacity for loss with product risk profiles."

The new PROD rules mean advisers now need to factor client behaviour into their thinking but, if done correctly, writes Chris Davies, this can lead to a significant competitive advantage

The missing link between advice suitability and appropriateness of product in meeting client needs has been delivered for retail investment advice firms through the introduction of the Financial Co...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Tom McPhail: "That's the headline the advice community has mostly picked up on, but if you step back and look at what else is going on in the regulatory policy environment it suggests that not only is a line in the sand being crossed, the whole beach is being dug up."

All eyes on the boundary between guidance and advice

Could lead to business plan shake-up at regulated firms

Tom McPhail
clock 29 September 2022 • 3 min read
SPP flags range of issues with FCA transfer advice redress consultation

SPP flags range of issues with FCA transfer advice redress consultation

Society highlights series of problems it foresees with regulator’s plans

Jenna Brown
clock 27 September 2022 • 2 min read
Kwasi Kwarteng. Image: Andrew Parsons/Number 10

Mini Budget 22: Government to 'scrap' Solvency II to boost investment

Chancellor says replacing EU law with rules ‘tailor made for the UK’ will free up billions

Jonathan Stapleton
clock 23 September 2022 • 1 min read