The Problem with finance?

Jul 07, 2020

We all agree that Governments need to have good laws, institutions, and processes in place to ensure accountability, stability, equality, and access to justice for all. This ultimately leads to respect for human rights and the environment. It also helps lower levels of corruption and instances of violent conflict. This concept is called the "rule of law." There are great benefits to business, and other stakeholders, in respecting and supporting the rule of law. Where the rule of law is weak, it is harder for responsible businesses to function, and to meet their legal obligations and have their legal rights protected. Ms. Christina Koulias, Senior Manager, Anti-Corruption and Global Governance

 

Nowhere is implementing the rule so difficult as in Financial Services. One of the reasons is information asymmetry. Unlike many other industries, it is one where providers package products that they understand better than supervisors and consumers. Hence supervisors always play catch. Consumers trusted the system because they believe that supervisors are in control when they are not. Over the years everybody got used to a world that everybody is quite happy with other people managing our money.

 

 But now we realise that those people have taken too much power over how that money is used, abused, and where it is invested. Bruce Davis – Co-founder – Abundance -We can let be, moan about it, and just get on with our life. I decided to do something about it. I figured out that whenever or wherever rules and laws are not being respected, what is required is policing: a PWFO practitioner will be a guardian and protector of end clients and families. A PWFO will be able to ask the right questions. I did it for years.

 

PWFO is dedicated to fixing the broken system by supporting more Professionals who also want to fix our current broken financial system. 

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