(First published in Personal Finance Professional, Autumn 2020) “Listen up class, here are the subjects that will come up in your mocks,” is how the FCA’s Dear CEO letter to IFA firms back in January should be read. No precise detail but enough to get ready. And whilst the announced suitability review has been
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
We launched on 5 February 2019 with high hopes – both DFMs and advisers had been telling us what a hassle it was to respond to and process due diligence requests, so DD|hub was launched to bring DFM due diligence into the digital age. One year on, and adviser reactions have been fantastic – many
Client segmentation is critical now that PROD sets out rules on selecting investment services for clients. Here’s an approach to consider.
We often hear about the need to undertake research and due diligence on the products and services recommended to clients, but what does that mean in practice? Specifically, is undertaking research the same as due diligence, or are the two different? And this is an important question, because there is confusion in the market about
Financial jargon can be hard to keep track of at the best of times and just when you think you’ve gotten a handle on the latest money mutterings, they change all over again. Ethical investing has certainly suffered through its various definition nuances. For many, ethical investing is still seen as an approach where investors
As the FCA’s suitability work continues, Chris Jones reminds advisers of their obligations to inform themselves and make informed recommendations You will often hear about the need to undertake research and due diligence on the products and services you recommend to clients, but what does that mean in practice? Specifically, is undertaking research the same
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.