Advisers can often fall into the trap of advising in isolation. Notwithstanding the fact that some clients may want advice limited to a specific area, generally this is not the case. We often see suitability reports which state advice has been ‘limited’ or ‘restricted’ to a specific requirement. There is a misunderstanding here; what is more likely is, by example, the client has some money to invest, but that does not mean advice can be restricted to investment planning. Full, holistic fact finding and advising may identify the funds could be used more appropriately to say, make a pension contribution or pay off debt.
Use the Executive Summary section of ATEB suitability to position the specific recommendation in the context of the holistic position.
Publication of Directory Persons data
Michael Senior Compliance 2021, Directory, FCA, Register
Another March reminder! Solo-regulated firms must submit their Directory Persons data via Connect by 31 March 2021. Submissions of 10 persons or more using the multiple upload functionality must be done between 11 January and 18 March to ensure submissions are processed ahead of the deadline. A failure to submit required data in time would be a […]