Why is a section of the advice industry highlighting behavioural biases and blindness, wonders Graham Bentley, rather than celebrating people's remarkable capacity for asking difficult or unwanted naïve questions?
The financial advice community has a long history of sharing experience, knowledge and technical support. Back in the day, local life and pensions societies would invite technical experts - pensions legislation was infinitely more complex in the 1970s and 1980s - and industry leaders to freely share their knowledge. Alongside these more sedate gatherings, there were the rather more ‘rah-rah' events organised by the Life Insurance Association or ‘LIA' - effectively the forerunner of the PFS. In the 1970s and 1980s, LIA meetings were dominated by various successful ‘advisers' providing ins...
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