Listen up class here are the subjects that will come up in your mocks’ is how the latest Dear CEO letter to IFA firms should be read. No precise detail but enough to get ready. As background the FCA is seeing an increasing number of cases where the actions of firms are resulting in
Not all ratings are created equal. It is advisers’ responsibility to check their sources and make sure grading systems are reliable. The Financial Conduct Authority (FCA) has recently re-highlighted the need for advisers to understand the tools they use. Speaking at a conference in September, FCA director Debbie Gupta urged advisers to ‘consider the limitations
I often receive communications from discretionary managers with a multitude of badges, ratings and awards displayed prominently and think, sub consciously, ‘That’s nice – somebody likes them’. It gives me a warm feeling about the company, which I suppose is the aim. But what does all this bling actually mean? Ratings, awards and certification are
Chris Jones talks to Lee Robertson of Octo Members about the increasing focus on process and due diligence to ensure good customer outcomes, what the regulator requires from IFA firms and how DD|hub can help.
The ways to reduce the burden of due diligence are often crystal clear – provide a pre-packaged set of data that covers all the main points raised about due diligence. Or, even better, build an industry standard one! Of course, life isn’t that simple. Advisers want their own questionnaires for reasons discussed in my previous
Speaking to discretionary investment managers on almost a daily basis about due diligence matters I often hear the anguished rejoinder, ‘and advisers insist on having us complete their questionnaire rather than taking our standard due diligence pack.’ I am never sure whether insisting that the standard pack is sufficient is a matter of arrogance on