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The FSA today said adviser firms' approach to platform systems and controls continues to be a " particular area of concern" as AIFA launched a platforms due diligence guide for members.
Sheriar Bradbury, managing director of Bradbury Hamilton, says advising on high-risk products should mean higher qualifications, and stricter capital adequacy requirements.
AIFA today launches a platforms guide to help members conduct “robust” due diligence on wraps and platforms.
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The FSA has fined Money Wise IFA £19,600 for compliance failings on investment advice it gave to more than 500 customers using platforms and discretionary portfolios.
Nervous advisers are recommending clients stick with their existing pension arrangements, even where there is good reason to transfer, because of the FSA’s “heavy-handed” crackdown on pension switching.
The FSA has taken action against two mortgage brokers for reckless business practises that allowed false and misleading mortgage applications to be made to lenders.
Neptune and Martin Currie are the latest asset managers to be linked with troubled group Gartmore, with rumours suggesting the pair have expressed an interest in acquiring a stake in the firm.
The protection market has started to recover over the last year, but it is being propped up by resurging critical illness sales, according to FSA figures.
The number of FSA staff earning more than £100,000 has almost trebled in the past four years.
The RDR could drive up to 3,000 advisers out of the industry over the next five years, according to the latest estimates.
Ed Dymott, head of UK fund partners at Fidelity, discusses the RDR platform proposals that still need clarifying to achieve a level playing field.
An elderly couple say they would be ‘very wary’ of using an IFA again, after finding themselves caught up in both the Keydata and Park Row debacles.
Helen Morrissey talks to Jeremy Mugridge about the importance of client segmentation
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