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.
Are you correctly structuring your suitability reports?
A reminder that we are running a supervisor’s training workshop on the 25th September.
or, to put it another way, all information is good information
The FCA has announced the 2014/2015 programme of Positive Compliance workshops.
FOS Change of Address
Steve Bailey Compliance FOS, PI, Update
FOS makes way for a toothpick!