Head of Personal Banking: Danske Bank's investment advisers were unaware of their own poor advising

While bank researcher wonders how for more than a year, Danske Bank's investment advisers have not hesitated to sell a product that did not benefit customers, the bank's Head of Personal Banking explains that advisers were completely unaware that the costs of a recommended product in certain cases exceeded the expected return.
Danske Bank Head of Personal Banking Thomas Mitchell. | Photo: Søren Bidstrup/Ritzau Scanpix
Danske Bank Head of Personal Banking Thomas Mitchell. | Photo: Søren Bidstrup/Ritzau Scanpix
BY ANNE LOUISE HOUMANN, FINANSWATCH

Bank researcher Lars Krull from Denmark is surprised that Danske Bank's advisers have not protested against recommending customers to invest in the bank's product Flexinvest Fri, as costs in certain cases exceeded the expected return.

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