Armchair Critic: Twenty points for advisers to ponder

Awkward questions

clock • 5 min read

Socrates argued the unexamined life was not worth living but what about the unexamined industry? Here our Armchair Critic - and occasional armchair philosopher - Brendan Llewellyn offers points for us all to ponder

1. While a financial services company should probably focus only on profitable clients, if everyone focuses on the middle or above, then the sector will alienate itself from the government and regulator. At best, it will become politically irrelevant - after all, how could a service that cannot help the majority of the population be politically relevant? Does that matter? 2. We know from our behavioural economics that marginal utility falls with levels of income and wealth - and it follows that consumers are more indifferent to rises than they are to falls. It would also follow that aggr...

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

FCA: Most firms unable to meet bereavement claims performance levels

FCA: Most firms unable to meet bereavement claims performance levels

Call for improved bereavement handling times

Cameron Roberts
clock 22 November 2024 • 3 min read
ETF providers launch unlisted share classes to tackle slow MPS adoption

ETF providers launch unlisted share classes to tackle slow MPS adoption

Technological and cost barriers

Valeria Martinez
clock 22 November 2024 • 5 min read
Advisers expect regulation to limit time taken on giving advice

Advisers expect regulation to limit time taken on giving advice

Industry expects it will constrain their ability to meet demand

Isabel Baxter
clock 22 November 2024 • 2 min read