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.
In some cases, such as life settlement funds, there was academic literature in the form of a report from CASS Business School which set out the concerns that an adviser should have had about these types of funds. Research – do not be sold to.
Adam Samuel is an independent compliance consultant