View more on these topics

Advisers confused about TCF evidence

Nearly half of advisers are confused about the evidence the FSA expects them to produce by the December treating customers fairly deadline.

The Exchange surveyed 560 adviser firms and only 54 per cent say they confidently understand what the FSA expected from them to evidence TCF principles in their firm.

Only 51 per cent of firms say they are confident they could meet the TCF requirements if the deadline was today, while 8 per cent say it is unlikely or not at all likely they would pass the test. The other 41 per cent believe it is possible.

Managing director David Child says: “With the amount of new and growing regulation advisers are now facing, its obviously proving costly for many firms to invest the time and research needed to ensure adherence to all the new rules, whilst keeping business levels up under difficult market conditions. But it is rather concerning that so many advisers don’t understand what is needed to be able to evidence TCF across their business, particularly when the FSA deadline is looming.”

Recommended

Thinc reviews multi-tie model

Multi-tied network Thinc has confirmed that it is reconsidering its distribution strategy in light of the retail distribution review.

Fay Goddard to take over from Tim Eadon at PFS

Former Aifa deputy director general Fay Goddard is tipped to take over from Tim Eadon as chief executive of the Personal Finance Society, following the announcement of Eadon’s resignation yesterday.

China tech and Global Alpha: a new great leap forward

By Robin Geffen, Fund Manager and CEO

Internet giant Alibaba is exactly the type of entrepreneurial company that the high-conviction, top-performing Neptune Global Alpha Fund seeks to invest in. Established just 14 years ago in an apartment in Hangzhou, today Alibaba is larger than Amazon and eBay put together and is challenging some of the most powerful internet companies in the world…

Read more 


Important information

Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment