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One in five advisers unsure of risk rules

One in five advisers is unaware of or wrong about their responsibilities over assessing clients’ risk appetite, according to Prudential research.

Early last year, the FSA issued a guidance paper on risk which stressed the need for advisers to be able to demonstrate how they have recorded a client’s capacity for loss, risk attitude and ongoing suitability for the investment decision recommended.

The research of 283 IFAs, carried out by NMG Research in October, shows 18 per cent of advisers are unaware of the guidance, with another 2 per cent incorrectly believing the paper does not apply to investments.

Bestinvest senior analyst Ben Seager-Scott says: “It is important to understand clients’ risk appetite and return expectation to ensure they are correlated.”


Negligence claims could drop after GMAC-RFC vs Countrywide verdict

A ruling in a High Court case between GMAC-RFC and Countrywide Surveyors could result in fewer lenders making claims of negligence against surveyors. Former lender GMAC-RFC started legal proceedings against Countrywide Surveyors in 2008 for allegedly negligently overvaluing a property which it lent on in 2004. But Countrywide in turn made allegations of contributory negligence […]

SimplyBiz to launch gap-fill programme

SimplyBiz is launching a CII-accredited gap-fill programme for its IFA members. The programme is set to launch in February as part of a series of learning and development events across the UK. The gap-fill sessions will be provided through reading material and multi-media, SimplyBiz says the programme could take as little as a month to […]

Out of context

“There probably won’t be any need to adjust our pricing because apparently the world is going to end on the 21st of December.” Zurich Financial Services protection management director Peter Hamilton weighs up the impact of gender-neutral pricing if the Mayan prediction that the world will come to an end on December 21 this year […]

Duty calls

Savings on stamp duty land tax can be considerable


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