Stop right there: When (and why) advisers have to say 'no' to clients

Telling clients their investment idea is a 'no go' is a tough job, but someone's gotta do it

Laura Miller
clock • 8 min read

Nobody likes to be told they are wrong. Fewer still want to pay for the privilege. But for advisers that's sometimes the best deal they can ever offer. Laura Miller reports...

Growing up, we are told ‘no' quite a lot. No, you can't have sweets before dinner. No, you can't stay up and watch TV. No, you can't have a £120 bomber jacket even if everyone else is wearing it because in a month's time they won't be and it will gravitate to the bottom of your wardrobe never to be seen again. No is restrictive when we want to be free. Being told ‘no' doesn't get any easier when we are adults, even when it's for our own good. As the field of behavioural economics is increasingly revealing, we are not always rational beings and don't always recognise what is best fo...

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 Pensions

Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Government publishes Pensions Investment Review interim report and launches DC and LGPS consultations

Report published as Reeves delivered inaugural Mansion House speech

Jonathan Stapleton
clock 15 November 2024 • 4 min read
Chancellor to create DC 'megafunds' in Mansion House growth bid

Chancellor to create DC 'megafunds' in Mansion House growth bid

Chancellor to unveil ‘biggest pension reforms in decades’

Martin Richmond
clock 14 November 2024 • 3 min read
Pensions dashboards could leave savers at risk of 'poorly informed' transfers

Pensions dashboards could leave savers at risk of 'poorly informed' transfers

Research finds two-fifths of savers likely to use dashboards to carry out a pension transfer

Martin Richmond
clock 13 November 2024 • 3 min read