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

WIFA entry tips from the judges: Insight into what makes a standout entry

WIFA entry tips from the judges: Insight into what makes a standout entry

Gillian Hepburn and Sam Slator in the studio

Professional Adviser
clock 10 June 2026 • 1 min read
Small firms to file accounts with Companies House from 2028

Small firms to file accounts with Companies House from 2028

Must file profit and loss accounts but can opt out of publication

Sophia Panayi
clock 10 June 2026 • 2 min read
FCA deputy CEO: Regulator cannot scale financial inclusion initiatives alone

FCA deputy CEO: Regulator cannot scale financial inclusion initiatives alone

FCA deputy CEO Sarah Pritchard speaks to Treasury Committee

Sophia Panayi
clock 09 June 2026 • 3 min read