You’d have thought that poor advice was becoming a rarity by now wouldn’t you? But no, it still seems to be alive and kicking judging by the number of individuals being cited as being ‘incompetent’ by the FCA. Just last week, the regulator published yet another final notice which made startling reading. This time 422 […]
We have completed the latest upgrade to ATEB Suitability on 26th October 2023. This update comes at no additional cost and provides various template-related enhancements as well as new additions to our content integration and content management libraries. Full details of the enhancements can be found in the tables below, but some of the highlights […]
If you ask most advice firms which part of the advice process consumes the most time, most will reply: “Suitability Reports”. Based on the mammoth documents that some firms still produce, we can understand why. We do have some sympathy with firms though. On the one hand they’re told by the FCA that reports are […]
The title may well lead you to thinking that this guy isn’t too tightly wrapped and perhaps a couple of sandwiches short of a picnic, but there is method in the madness. Honestly. Most of you good folk out there will receive regular bulletins from various publications virtually every day (almost hourly if you subscribe […]
Client objectives are the starting point for virtually all advice scenarios, but how often do the objectives recorded on file look more like the product solution than what the client actually wanted to achieve? We check a lot of files and some client objectives are clearly articulated in the client’s own words and are supported […]
Last week we reported that one of ATEB’s firms had received a monster information request from the FCA. This week we can report on the outcome. Readers will be aware that the firm in question received an unsolicited request from a supervisor at the FCA to provide a very considerable amount of data and […]
In its numerous publications prior to the implementation of Consumer Duty, the FCA promised that it would be more proactive and take a forward looking view, rather than acting with the benefit of hindsight – something for which it has received criticism previously. We’ve been waiting to see how this would pan out and didn’t […]
We’ve been involved with a number of firms who are on the acquisition trail and as part of the due diligence work we support them with, we check a lot of advice files. It won’t come as a surprise that many of these involve replacement business. What never ceases to amaze us is that, despite […]
Thomas Fuller, the 17th Century author and historian said that: “Health is not valued till sickness comes.” It is probably true that most people in good health perhaps take it for granted, but according to the Office of National Statistics, the number of working age people who can’t work because of long-term sickness […]
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Just when you thought it was safe to go back in the water
Paul Jay Compliance Conduct, email, FCA, PI, Register, scam, Xplan
This was the tagline written for the movie Jaws 2 and like the shark in the film, the FCA appears to be showing its teeth. Those who read the industry press will have seen numerous articles following issue of the FCA’s Dear CEO letter entitled FCA Requirements for Wealth Management and Stockbroking Firms, issued […]