Does Professionalism in Financial Services Have a Future?

Charles W. Munn ()

Chapter Chapter 2 in Ethical Discourse in Finance, 2021, pp 21-38 from Palgrave Macmillan

Abstract: Abstract The purpose of this chapter is to examine how the concept of ‘professionalism’ in modern day financial services in the UK is understood and practised. It examines how computerisation, competition, remuneration strategies, Big Bang and misplaced regulation have all contributed to a reduction in professional standards. It goes on to examine how structural changes in the provision of financial services and the dash for profit growth have led to a reduction in ‘professional services’ and how they have been replaced by a sales culture. It further reflects on how these changes have altered the trust relationship between customers and providers. Finally it reflects on how professional bodies might assist in the restoration of professional standards and trust in the provision of financial services.

Keywords: Professionalism; Financial services; Regulation; Big Bang; Remuneration; Financial crisis; Trust (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-030-81596-7_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9783030815967

DOI: 10.1007/978-3-030-81596-7_2

Access Statistics for this chapter

More chapters in Palgrave Studies in Impact Finance from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().