Financial Planning

Clients’ needs should be top priority

clients needs priority

The needs of clients should be the number one priority for financial services firms but this fundamental principle has not always been followed.

The financial services industry must improve its treatment of customers by ensuring clients’ needs take priority, a specialist investment research platform provider has noted.

The observation has been made by Lincoln Indicators as it has reflected on its industry experience over the past 25 years.

According to Lincoln Indicators co-founder and managing director Tim Lincoln the customer should be king but has not been treated that way for some time.

“Whether it’s the recent royal commission or the ongoing legislative reform and regulatory change across financial services – it’s clear that the sector for many years forgot that the customer comes first,” Lincoln said.

Further to this point he also advised financial services firms to realise mum and dad investors are not ignorant individuals.

“They have good ‘BS’ detectors and want to make investment decisions based on facts and data, not opinions or hype,” he noted.

The firm itself is continuing to develop its Stock Doctor platform aimed at providing self-directed investors with better information to allow them to make more prudent investment decisions.

“We’ve expanded our offering to include managed funds with the same quantitative model for stock selection and continuously enhanced the Stock Doctor platform experience, but our investment philosophy – investing in the numbers, not hype or opinions – has not. And this will never, change,” Lincoln explained.

He pointed out the provision of improved investing tools such as Stock Doctor was never more important due to the volatility of markets and the uncertainty of caused by recent global events.

“As we begin 2022 – Omicron, inflation, the Russia-Ukraine crisis and more unknowns – there’s more noise and volatility around the markets than ever before. Objective analysis and facts have never been more important for investors looking to navigate the share market through this turbulent time,” he said.

“It is also during this time of volatility, that investors with the right tools armed with trusted stock research, can identify opportunities.

“Ensuring thorough analysis that cuts through the hype and all the market noise is critical to share market success, and we help investors do just that.”

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