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.
A reminder for general insurance intermediaries
Fourth and final free instalment of Pensions Related News
The FCA has issued two alerts that are essential reading for Pension Transfer specialists.
HMRC has lost a landmark appeal where IHT was charged following death within two years of a pension transfer.
Acquiring clients from other firms
Alistair MacDougall Compliance 2017, FCA, Switch
The FCA has issued guidance on the issues around acquiring clients from other firms