Why it isn't just clients who suffer from overservicing

'Many advisers are drowning in a sea of reviews'

clock • 5 min read

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

  • 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 Your Business

Simon Rogerson: Failure is not an option - or is it?

Simon Rogerson: Failure is not an option - or is it?

'Failure is a very normal, and very necessary, part of our lives'

Simon Rogerson
clock 06 December 2024 • 4 min read
All the advice firm acquisitions that have taken place in 2024

All the advice firm acquisitions that have taken place in 2024

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 04 December 2024 • 3 min read
Margetts Wealth directors complete management buy-in

Margetts Wealth directors complete management buy-in

West Midlands IFA to remain independent and owner-managed

Jenna Brown
clock 21 November 2024 • 2 min read