Use the quieter summer months to determine which areas of your business might benefit from a modular charging structure
Higher net worth clients may seem desirable but can pose all kinds of compliance and legal problems.
The FCA has indicated increasing intolerance for non-compliance, so we are likely to see regulatory action if there is no improvement.
Advisers sometimes overlook the appropriateness of underlying risk assets, resulting in complaints.
Non-competition clauses are typically kept short but a recent High Court decision upheld a 12 month non-competition covenant.
Financial services businesses can usually rely on written communications to correct a genuine error but firms should take care to ensure all communications are fair
Firms which continue to fail to set out charges clearly can expect to get short shrift from the regulator.
Armed forces personnel using the Forces Help to Buy scheme are prevented from taking up the Help to Buy mortgage guarantee as it violates EU regulations
There are two financial promotions rules that are often broken
Experience has shown that resorting to the courts to try and overturn FCA or FOS decisions is not a productive option for financial advisers
The current definitions of independent and restricted advice do no favours for advisers or clients
UK advisers already meet most of the standards required under the finalised Priips directive but we need to make sure the new rules don’t lead to more paperwork.
The FCA recently published its annual risk outlook. So what’s new?
Firms think they fall outside of platform definitions and can therefore retain fund manager payments.
On the eve of MMR implementation, Money Marketing talks to brokers about how the review has been handled, and how it will impact brokers and consumers.
Following the FCA’s recent review of adviser charging, it is important to ensure clients are given a clear breakdown of advice costs as soon as possible.
Research products and their associated risks. Do not allow product providers to sell to you. Many of the major misselling incidents of recent years had at their heart a very successful salesman flogging his product to IFAs. All too often, the adviser had no idea what was in the product or the risks to which anyone holding it was exposed.
Advisers have to be prepared to advise clients to follow a course of action they do not want to
The RDR has had relatively little impact on the demand for advice and despite the greater regulatory burden, advisers look set to benefit from more sustainable income
Mortgage brokers warn about the “failings of the mortgage market” in providing solutions for borrowers in later life
Ensuring employees are clear where and when intellectual property rights apply can help prevent costly litigation when advisers leave a firm
Experts say new European rules on fund manager pay do little to add to current UK regulation
Brokers say the regulatory clampdown on interest-only mortgages has gone too far
Brokers questioned whether a local authority has the necessary clout to oversee the relationship between estate agents and in-house brokers.
One year on from the RDR, successful adviser firms can be seen to share many characteristics, says Heartwood Investment Management’s Mark Rockliffe.
Advisers reveal what’s on their wish lists for financial services for the new year.
A string of record fines, the introduction of the RDR and the replacement of the FSA with the FCA have made for an eventful 12 months
Brokers says the power to fine rogue claim management firms is long overdue.
CML chairman warns government not to get “addicted” to the success of Help to Buy and to get an exit strategy in place
Advisers are basing charges on market trends rather than client research and cost of delivery
Increases to capital requirements could see banks pull back from high LTV lending.
Industry backs call for clampdown on unregulated packagers advising clients
Brokers say there is no basis to Chris Leslie’s claims that mortgage fees are the “next big scandal”.
APFA’s senior technical adviser looks at when it is appropriate for independent firms to refer clients to external firms for advice.
Money Marketing research finds many firms which the regulator has issued warnings about still operate live websites
Pension simplification started in December 2002 with the publication of a green paper from the Inland Revenue, entitled Simplifying the Taxation of Pensions – Increasing Choice and Flexibility for All. The plans became reality on April 6, 2006 and the rest, as they say, is history.
Good things don’t come to those who wait.