What is the difference between advice, information only and a personal recommendation?
Amongst other things the Finalised Guidance document FG15_1 ‘Retail investment advice: Clarifying the boundaries and exploring the barriers to market development’ looked to explain the differences.
Steve Bailey (ATEB director) recently undertook a critical and detailed examination of the paper for an article compiled for Adviser Business Review.
The article can be accessed here.
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It’s an important read. Firms looking at developing other distribution channels will need to be very careful in their approach. Innovation can create some excellent customer outcomes with the right level of investment and expertise, but beware, because there are some banana skins.
If you are in doubt please refer to your ATEB consultant or contact us here.
More Choice – More Flexibility – More Relevance
New rules apply to transfer advice from 1 April 2018.
The FCA proposals for further changes to rules around pension transfer advice.
If you want help preparing for the AF7 exam, this should be of interest.
FCA Sector Views 2018 – Pensions and Investments
Alistair MacDougall Compliance 2016, 2018, FCA, Pension, Pension Transfer, Switch
Keep up to date with the FCA’s current areas of focus.