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.
Double bubble equals trouble
Paul Jay Compliance EBI, FCA, PI, platform
A lot of our recent articles have provided our views on what we see as a significant shift in the FCA’s stance and the tone of their language. Not because we do so for the fun of it, but because there has been a tangible shift. As yet, the anticipated findings from the thematic review […]