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.
Defined Benefit Transfers
Taking a partial transfers could be a suitable option for many clients.
The first of a series of guides on transfer advice.
The FCA has published its policy on recording telephone calls.
Defined Benefit Transfers: Standards of Advice
Alistair MacDougall Compliance 2015, FCA, Pension
Recently published FCA findings on suitability of transfer advice.