Ethics and Client Communication – Riskinfocus25

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Ahead of his presentations at this year’s Riskinfocus25 conferences, strategy consultant Mark Neil is sharing some of his insights to help advisers understand best practice when it comes to ethics.

Neil, who has spent more than 38 years working across the financial services industry, says from an ethical perspective, the essential elements of fostering transparent communication include:

  • Honesty and clarity
  • Using clear communication
  • Having two-way communication
  • Maintaining consistent and reliable communication practices
  • Being accessible to clients

“The ethical relationship between a financial adviser and clients is built on trust, transparency, education, and a commitment to the client’s best interest,” says Neil.

Mark Neil.
Mark Neil – ready to talk ethics.

“The adviser’s role not just as a service provider, but as a steward of their client’s financial future.”

He says modern business ethics include a range of principles and practices intended to ensure companies operate in a manner that is not only legally compliant, but socially responsible.

During his Riskinfocus25 presentations in March, Neil will take a deep-dive into a range of ethical dilemmas often faced by advisers, including:

  • Overselling and underselling
  • Appropriate policy recommendations
  • Recommending policies that are best for the client
  • Client advocacy when claims are denied

“Business ethics is not just about being legal,” he says. “The product or service should contribute to the community good and minimise harm.

“Ethical leaders set the tone for an ethical culture. Their actions and decisions are pivotal. Acting ethically raises consumer trust and community confidence in our profession. Ethics is a mutual obligation of all parties.”

Click here to find our more and to register to attend Riskinfocus 25 in your capital city.