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 hot topic with the FCA
The FCA has issued two new documents that are important for firms selling products using a simplified advice or non-advised sales process.
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Huw Reynolds, ATEB Director, raises £2,000 for charity.
Disclosure of Total, Client Specific, Adviser Charge
Steve Bailey Compliance FCA, PI, Switch
It is important that firms understand what is needed in this respect and disclose adviser fees compliantly