Your IndustryNov 26 2015

Guide to handling insistent clients

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CPD
Approx.60min

    Guide to handling insistent clients

      pfs-logo
      cisi-logo
      CPD
      Approx.60min
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      Introduction

      By Emma Ann Hughes
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      While firms transacting such business provide a route for clients to utilise the new pension freedoms, the fact that the client is ‘insistent’ does not eliminate all the risks for firms.

      Was the original advice offered and the fact it is at odds from what took place sufficiently clear to the client?

      Has the client been made sufficiently aware of the risks, disadvantages, and implications of their chosen route?

      If things are not sufficiently spelt out then firms are likely to find it difficult to defend future complaints if clients argue that they were not in a fully informed position when making their decision.

      This guide will explore what stance the FCA and Financial Ombudsman Service are taking when it comes to insistent clients plus how trade bodies, intermediary companies and professional indemnity insurers view dealing with such individuals.

      Supporting material produced by; Keith Richards, chief executive of the Personal Finance Society; Chris Hannant, director general of the Association of Professional Financial Advisers; Garry Heath, director general of Libertatem.org.uk; Mike O’Brien, managing director of Tenet Connect and Tenet Select; and Linda Todd, head of operations at Bankhall.

      In this guide

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