One in three wealth managers not up to scratch on suitability – FCA
One third of UK wealth managers’ suitability reports currently fall short of the Financial Conduct Authority’s expected standards, the regulatory body said on Wednesday.
One third of UK wealth managers’ suitability reports currently fall short of the Financial Conduct Authority’s expected standards, the regulatory body said on Wednesday.
Investor engagement and client suitability will be the first topics tackled by a new research firm Gliocas Consulting, fronted by Investment Quorums Lee Robertson and marketing and business consultant Abbie Tanner.
Coutts has written to clients to inform it is conducting a review into the suitability of its historic investment advice, a response to the regulators Dear CEO letters sent in 2011.
It seems many in the adviser community remain downbeat on RDR but, even without the regulator(s) undertaking, wouldn't market forces be pushing us in the direction of change anyway?
Professor John Kay is to act in an advisory capacity for online discretionary investment manager Nutmeg and has made a “substantial” investment in the business.
Lighthouse Financial Advice has made a strategic decision to move into the ‘advice gap’ left behind by high street banks and other advice firms, tapping into over five million ready-made clients through ‘affinity groups’ and workplace connections.
Along with the FSA’s publication of its mystery shopping review into banks’ investment advice came well-placed fears that other sectors of the advice industry would be next.
Santander's plight is an example of financial advisers’ job insecurity as a result of RDR implementation and an overall downsizing of the market, according to wealth manager True Potential.
The Financial Services Authority has deployed mystery shoppers for the first time since investigating PPI mis-selling in 2008, as it strived to judge the suitability of high street investment advice in the run up to RDR.