The FCA has published the much awaited findings from the Assessing Suitability work it has been carrying out. http://bit.ly/2qVxJO5 http://bit.ly/2qvhedd In reading the above its clear the FCA’s focus on suitability will continue to be an area of high focus as it remains arguably the largest inherent risk in the sector. Firms would be wise […]

Following the Financial Advice Market Review Report the FCA has published a new webpage providing information on the payment of initial advice charges for advice on lump sum investments to retail clients. The webpage sets out how firms who permit clients to pay in installments for advice on a lump sum investment are afforded some […]

The FCA has published the findings of its thematic review into advisory firms’ research and due diligence processes, including how they create centralised investment propositions (CIPs) and review products, platforms and funds to select suitable solutions for clients. The FCA reviewed the processes and procedures of thirteen advisory firms, of a range of sizes. To […]

The FCA has published the findings of its thematic review into advisory firms’ research and due diligence processes, including: how they create centralised investment propositions (CIPs) and review products, platforms and funds to select suitable solutions for clients. The FCA reviewed the processes and procedures of thirteen advisory firms, of a range of sizes. To […]

How much can advisers really be expected to know about problem investments before they turn sour? Keydata and Arch cru collapsed separately six years ago, but important new details about who and what caused the multi-million pound failures are still filtering out. Advisers were among the first to be blamed, if not for causing the […]

Two firm directors who lost investors £50m in a scheme the Serious Fraud Office (SFO) branded “an elaborate scam” have been sentenced to a total of 12 years in prison. Richard Aston Clay was sentenced to ten years and ten months. Kathryn Clark was given a two year suspended sentence. Michael Cotter of law firm […]

Couple lost £43k in 18 months on £700k investment as banking crisis emerged A judge has rejected a couple’s claim their adviser breached a continuing duty of care to them by failing to “correct” his original recommendation of a medium risk portfolio following the onset of the 2008 market crash. Judge Andrew Keyser QC ruled […]

Four out of five investment advisers are concerned that inappropriate products are being rushed to market to take advantage of changes announced in the Budget, research has found. The survey, carried out by fund manager State Street, looked at the likely impact of relaxing regulations around how defined contribution (DC)savers take their pension pots. Of […]