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Comments
Shock Horror....
I actually agree with this part of teh FSAs statement "it is the role of advisers to consider the cost of exit fees and discuss them with their client when making a ....... recommendation." Unfortuinatelyin my opinion, it is impossible for a reason why LETTER rather than a reason why report/record (inlcuding verbatim recordings of not only what was said, by whom, it's context and empasis)is the only way INTENT can be clearly demonstrated withou the amout of written small print becoming meaningless to all parties, client, adviser/agent and lastly provider. The only people that seems to enjoy a reason why LETTER are compliance depratments and the F-pack who seem to fail to see that the written word is only a very small part of the whole communication and advice process.
Posted by: Phil Castle