Menu
Suitability – still the FCA’s hot topic

Hot topic: Suitability in wealth management

“Any successful wealth management service is entirely dependent on providing clients with suitable investment portfolios.

Helping firms to improve their standards on suitability is one of our priorities in supervising the sector.

… many firms still need to up their game – suitability remains one of our main concerns in the sector. “

So said the FCA in a recent regulatory roundup. The regulator has completed three separate phases of work on this aspect over the past six years, culminating in a Thematic Review in December 2015 – see our view here.

Suitability was also the theme of the investment roadshows that the FCA has been conducting around the country. See our summary here.

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

Suitability – still the FCA’s hot topic

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

Suitabiliity. It’s the FCA’s hot topic. Make it yours. The quality of every firm’s KYC and advice should continue to be a top priority.

Action Required By You

  • Read the Thematic Review if you have not done so already;
  • Consider your KYC and advice processes. Do they support suitability?

ATEB clients should speak with their account manager as necessary; otherwise contact ATEB here to find out how we can help.

 

SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Green dart pointed to dartboard

Ongoing client reviews – appropriate or not?

Compliance , , , ,

FT Adviser published an article on 15 February under the headline “Advisers struggle to get savers to come for pension reviews”. We read this with interest and not a little concern.   The article reported that one of the speakers at a recent conference stated that one of the greatest challenges faced by her advice […]

Read More
A broker and a client doing a handshake

FCA Consumer Duty – Research and Due Diligence

Compliance , , , , ,

The FCA is consulting on ‘A New Consumer Duty’ and this is receiving considerable press coverage. The consensus of opinion is that this will bring significant change, and there is no doubt that larger firms in particular, will need to review and update systems. With regards to smaller firms however, our view is that much […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

FCA data – tackling harm to consumers

Compliance , ,

The FCA has  published the latest data on its work to tackle harm in the consumer investments market between April to September 2021. The data provides useful insights into specific areas of the FCA’s Consumer Investments Strategy, particularly higher-risk investments and scams. They have also issued a press release on the data, which you can […]

Read More
Macro photography of green leaf plant

Awareness of the new FCA rule changes of sustainability

Compliance , , , , , , , , , , ,

You read it here first – probably! The FCA has finalised new rules around disclosure in relation to sustainability.     But before our adviser firm readers start to worry about rules they had not noticed on the horizon, we can confirm that the new rules do not affect adviser firms – yet. Regular readers […]

Read More
Photo of code projected over woman

How accurate is the data your firm submits to the FCA?

Compliance , , ,

The FCA set out in its Business Plan 21/22 how it is changing to improve performance and meet future challenges.  Read our previous article setting out a few of the key areas.   Firms can learn from the progress to date on one of the key areas … The Early Oversight Function (EOF): stronger oversight […]

Read More
Load More