Advice, Information Only & Personal Recommendation

8 March 2015 Steve BaileyCompliance

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.

Don’t forget to check Our View about this article and the Actions Required By You

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Our View

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.