How to transform bank advisers to suit your business

What are the benefits and risks of taking on ex-bank advisers?

Nicola Brittain
clock • 7 min read

An increasing number of advisers are taking on ex-bank advisers, but what benefits and risks does this afford? Nicola Brittain takes a look.

With banks such as Barclays, Santander and others having cut their advisory divisions, there are an increasing number of ex-bank advisers in the market. But opinion remains split on whether these people are likely to be an asset or a hindrance for the employing company. Alpha Investments and Financial Planning director Alan Solomons is not alone in voicing concerns about ex-bank staff, considering the vast majority of customer complaints to the Financial Conduct Authority have been regarding banks. "I would be wary of dealing with bank advisers, wary of their ethics, training and tech...

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 profession

Is being Chartered worth it? Breaking down the perennial dissensus

Is being Chartered worth it? Breaking down the perennial dissensus

‘Many non-Chartered advisers are just as competent as those who are’

Hope Coumbe
clock 10 May 2024 • 4 min read
Andrew Goodwin: Financial advice and the Evangelista effect

Andrew Goodwin: Financial advice and the Evangelista effect

'Future of advice lies in independence, approachability and affordability'

Andrew Goodwin
clock 10 May 2024 • 4 min read
Aviva integrates robotic process automation into platform capabilities

Aviva integrates robotic process automation into platform capabilities

Robotic process automation removes need for client by client process

Sahar Nazir
clock 09 May 2024 • 1 min read