View more on these topics

Pritchard wants better FSA guidance on exams

Qualifications are not the holy grail that will prevent misselling, says Clarkson Hill chief executive Ron Pritchard.

Pritchard says he would be more inclined to encourage the group’s IFAs to achieve qualifications if there was better FSA guidance on which exams they should be taking.

Speaking to over 200 delegates at the annual conference, he said: “More professionalism is better for the consumer and will increase the level of trust they have in advisers but it is not a panacea for treating customers fairly. Fee paying does not equal professionalism.”

Pritchard said the FSA must realise that most IFAs are self-employed and cannot take time to retrain and take exams without the support of a bigger group.

He said Clarkson Hill is committed to improving its standards but the FSA needs to be clearer in its message over which qualifications it would prefer advisers to take.

Pritchard said : “We will help with all the change you need but we could do a better job if we knew what the right qualifications were. The experience of current advisers is significant but we need to look at grandfathering that across to younger up-and-coming advisers.”


Directors must check policies for sub-limits

It has come to our attention that a number of insurers have introduced a regulatory investigation sub-limit onto their directors’ and officers’ policies. For directors of hedge funds with policies under this restriction, this means that, should the fund be subjected to an investigation by the FSA or SEC, they would be personally liable for […]

Compliance chief says TCF principles are nothing new

Treating customers fairly brings nothing new to advice as many firms have been putting its principles into practice for years, Clarkson Hill head of compliance and small firms John Lacey told advisers last week.He said: “Even if you think back to know your customer and the many variations of it that have appeared since then, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment