Client suitability and mis-selling are closely related but mis-selling can also be implied as deception. Advisers need to be aware of clients' situations if they are to avoid facing future claims
For a financial adviser, client suitability is the big issue - both in the past, the present and the future. It is the single most important issue for those dealing with clients in the UK and is so important, it should not require a regulator to dictate client suitability procedures. The industry should be way ahead in know-how and techniques. But, unfortunately, in the UK, this is still not always the case. The reasons for this are well-known. Dealing with private customers in financial services in the UK has been 'product provider/top-down', not 'private customer /bottom-up'. This balanc...
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