Sparrows Capital's David Ogden: How wealth firms decide how to provide value

'An amorphous and subjective concept'

The beginning of August marked a year since the introduction of the Consumer Duty.

The Financial Conduct Authority acknowledged the anniversary by flagging its intention to make observations on good and bad practice within the value assessments published by firms dealing with retail clients.  This underlines the ongoing obligation for firms to keep their services under review. I have seen a fair number of value assessments in respect of model portfolio services and I am surprised and disappointed that so many just say something along the lines of "we have reviewed our service and we are happy that it provides value", even in cases where it patently does not.  Ci...