Andrew Goodwin shares some harsh truths on the current advice model, which he says has "practically zero relevance for the vast majority of the population"...
One of the main reasons why so many financial advisers are unhappy in their work is that they repeatedly provide services their clients don't need. This is because they either fail to grasp or refuse to recognise what a lot of clients really want. The problem can usually be traced back to an assumption that the principal purpose of financial advice is to take a sizeable sum of money and make it bigger. This may well be the case in some instances, but it's often far from the number-one priority. From this false premise comes a second misguided notion, which is that clients are endless...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
