Most larger firms, whether due to increased operational or regulatory pressure, have robust infrastructure in place (though that has not always been the case).
Finally, one of the most critical measures of value is that clients feel confident they’re on track to meet their goals, as this peace of mind is a large part of the service clients pay for.
As before, most advisers do a great job, but there’s room for improvement for nearly a quarter of clients, of which 3 per cent - answering that they’re ‘not sure’ that they’re on track - show potential markers of risk.
No firm is perfect, and the FCA doesn’t expect them to be.
What it expects to see in annual board reports is clear evidence that firms truly understand their client experience and have a robust plan in place to address any gaps, even if they affect a minority of clients.
We’re delighted to see more firms tap into the full, considerable value of client feedback here.
Alex Whitson is managing director of VouchedFor
