Demonstrating fair value of intangible services, in line with the Financial Conduct Authority’s (FCA) new Consumer Duty rules, will require firms to innovate based on their own unique environment as there is no definitive solution, writes Ayesha Venkataraman…
When it comes to advisers' demonstrating value, there are two levels, says SimplyBiz head of business consultancy Karl Dines. "Measurable stuff is pretty much sort of a logic perspective where you would look at the price of your advice, and what you actually deliver for that. So that would be doing like a time and motion exercise to make sure that your charges are clear and fair." Adding: "The other stuff is a little bit more difficult. How do you actually measure the fact that a client has peace of mind knowing that their income is secure? How do you measure the financial knowledge coac...
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