Firm culture in financial service

March 2019


I have some experience about the different cultures that are operative in IFA firms and networks and larger institutions. The differences can be quite illuminating.

Culture in financial services is widely accepted as a key root cause of the major conduct failings that have occurred within the industry in recent history. Given its impact, firms’ culture is a priority for the FCA. The FCA expects firms to foster cultures which support the spirit of regulation in preventing harm to consumers and markets. These kinds of healthy cultures can also complement and support businesses’ financial performance.