There are no shortcuts to building consumer trust, writes Tim Sargisson. But getting the basics sorted, such as complying with SM&CR and other regulatory diktats, is a good place to start
In last month's blog, I highlighted a recent survey from My Pension Expert which reinforced something we have all understood for some time, that consumers remain reluctant to seek advice due to the continued lack of trust in financial services. I've recognised that the adviser community splits broadly into two camps. Firms who understand that proper client engagement is built on solid foundations of regulation coupled with appropriate levels of governance and oversight - and those that don't. This awareness stems from the early years of the 2010s, when as CEO of James Hay it was clear...
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