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.
FG 21/3 – client objectives
Alistair MacDougall Compliance Drawdown, FCA, ML, Pension, Pension Transfer, PI, transfer
Following on from our previous articles on FG21/3, we will look today at another of the interesting areas covered by the guidance. It goes without saying that the guidance itself is helpful, reiterating and emphasising previous rules and guidance and clarifying some areas that were arguably fuzzy before. However, as well as the actual content, […]