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.
Transfers and death benefits: considering life cover as more than lip service.
Is it risky to recommend a client invests via an adviser only platform?
New rules around ESG investing are expected in 2021. Firms should start preparations sooner than later.
The FCA has published finalised guidance on its framework to help financial services firms ensure they have adequate financial resources and take effective steps to minimise harm to consumers and to markets.
Data protection for joint parties
Alistair MacDougall Compliance 2018, Data Protection Act, GDPR, ML
Take care not to be caught out if the client provides details of another person.