Keith Richards's worst-case scenario for financial advice would be for a number of firms to become "overly commercial" in areas such as defined benefit transfers and so lead consumers towards poor outcomes and potentially the advice profession into disrepute.
The Personal Finance Society (PFS) chief executive is the first guest to appear in Professional Adviser's new 'Adviser Champions' series of video interviews, where figures from across the financial services sector offer their thoughts on the standing, health and future of advice. Richards goes on to say that advisers should not be shy of the commercial opportunities changes such as pension freedoms present - but he stresses that doing the right thing by clients has to be advisers' overriding concern. Asked what he believes advisers are doing well as a profession, Richards argues that ...
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