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.
Your clients are Unique and your reports to them should be too
This generically refers to the transfer of benefits
Switching from one investment to another
Don’t replace unless there is a damn good reason to do so
Special Report by ATEB: A Guide to Independence
Steve Bailey Compliance FCA
In association with Adviser Business Review Magazine ATEB has produced a guide that highlights key characteristics for an independent firm.