Date: 15.04.16 Category: Ethics & Professionalism
The CFA Society of the UK (CFA UK), the professional body for investment management with more than 11,600 members, launched its report into The Value of The Investment Profession which contains the views of key individuals and teams at investment firms, consulting firms, clients and companies as well as academics and policy makers. The report seeks to report to capture stakeholder views of the investment profession’s role, its effectiveness and value and highlight the challenges it can and should address.
To coincide with the publication CFA UK asked members to comment on the regard in which they feel the profession is held by clients and by society more broadly. While most (54%) believe that clients hold the profession in fairly high regard (scoring 7 or more out of 10), few believe that the profession is held in high regard by society, with just 16% expecting that the profession would be given a score of 7 or more out of 10 by society more broadly. The respondents’ average score for regard held by clients was 6.4/10, whereas regard by society more broadly was just 4.6/10.
Investment professionals were also polled on the importance that clients actually place on a potential investment manager’s commitment to ethics and professionalism and the importance that clients should place on that commitment. Close to half (48%) of all respondents said that clients should score the importance of a commitment to ethics and professionalism as 10 / 10. However, only 18% of respondents actually believe that clients give it that weighting, with respondents on average indicating that they believed clients would score the importance of a firm’s commitment to ethics and professionalism at 7.5 / 10.
Download a copy of the full press release below.