Our guide to assessing risk types

clock

The Psychological Consultancy's Geoff Trickey reveals why you should identify your own risk type before advising clients.

Provision of financial advice and management is a knowledge-based practice and, in a world where financial services and investment products grow ever more complex, most IFAs will have enough to do keeping up with market trends, red tape, legislation and good practice guidelines. Yet, they are required to assess each client’s propensity for risk. Poor practices have already been highlighted by the FSA, which between 2008 and 2010 rated more than 50% of the files they reviewed as “unsuitable” due to shortcomings in the way the customers’ attitude to risk was assessed. Pitfalls of people...

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

The Apprentice stars call for more financial advice as online businesses surge

The Apprentice stars call for more financial advice as online businesses surge

‘Crucial that young entrepreneurs receive the right guidance to manage their finances’

Sahar Nazir
clock 03 April 2025 • 2 min read
Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

Trump pushes ahead with global 'reciprocal' tariffs, sending markets into a tailspin

20% on EU, 10% on UK

Sorin Dojan
clock 03 April 2025 • 2 min read
Model portfolios continue to dominate UK adviser channel sales in H2 2024

Model portfolios continue to dominate UK adviser channel sales in H2 2024

ISS MI report reveals rising net sales with model portfolios driving growth

Sahar Nazir
clock 03 April 2025 • 3 min read