In this piece Paul Resnik bemoans the fact there are still no rigorously-tested standards for risk tools that enable advisers to make a fully informed comparison about providers, arguing there tools in the market that use 'gamble' questions and those that, in his view, more accurately assess clients' risk tolerance...
Suitability will be high up the agenda over the coming months as the regulator prepares to publish its latest findings on the subject. The Assessing Suitability Review will, alongside the Financial Conduct Authority's studies of both the retail distribution review and financial advice market review, ensure that the matter of risk and how advisers measure and discuss it remains a big discussion point in our industry. One of the reasons for that was evident in a recent Professional Adviser and Multi-Asset Review article - Battling regulation: Is compliance pushing clients to lower risk ...
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