Although we know that most firms are aware of the FCA’s post 2014 budget guidance, it is most certainly worthwhile our highlighting and reiterating what is expected of firms in the interim period i.e. up to April 2015.
The FCA’s guidance FG14-03 can be found here and if you have not already done so, please read this carefully. Note in particular the guidance in section 2 that explains what is expected for clients in different stages of the retirement process.
We recommend that you formally document your response to the guidance paper.
Should clients take Abridged Advice?
Paul Caine Compliance 2018, abridged, DB Pension, FCA, MiFID, Pension, Pension Transfer, Switch, TCF, transfer
Assessing suitability has always essentially been based around the same overarching principles … The recommended product type should meet the client’s profile and needs? The actual product recommended should be the most suitable, taking account of features and costs. In relation to the second principle, the cliché about cheapest is not necessarily the […]