We live in time that has moved well beyond competency driven models, yet organizations still primarily use competency-based interviews, competency-based development, competency-based performance reviews, and competency-based rewards as their framework for doing business.
Once consumers are aware of an expected level of technical performance that involves their lives, that performance becomes table stakes and they will expect that level of technical competency at any level of payment.
The FINRA Foundation notes that if the majority of investors lack even elementary investing concepts, yet rate their knowledge and competency as high, it makes it difficult to change the pattern of under-performance.