On 28 September, investment platforms received a “Dear CEO” letter, following previous letters in February 2020 and July 2021. It was addressed to platforms, but what does it mean for advisers? The FCA uses Dear CEO letters to raise awareness and highlight areas of concern around regulatory compliance and industry practices. This letter raised concerns
After 5 fallow years, the revived PFS Festival of Financial Planning was a huge success last week at the NEC, with an estimated 2,500 financial planners attending a rich array of presentations and discussions. We were delighted to present to 140+ planners on Investment due diligence in practice – and thank you to the many
(1st published by Citywire New Model Adviser on 10 Feb, 2022 at: https://citywire.com/new-model-adviser/news/ifas-must-sharpen-provider-checks-under-fca-consumer-duty/a237915) Due diligence involves not just looking at the product or service, but also examining the provider and thinking about the risks the FCA has identified. Advisers often call us for help, asking what the FCA actually expects in terms of research and due
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 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
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
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