FCA names Rory Percival replacement

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Rory Percival’s replacement as one of the leading liasons between advisers and the regulator will be Chris Hewitt, Percival has revealed.

Hewitt, a lead associate in the FCA’s investment intermediaries department, worked in financial advice before joining then regulator the Financial Services Authority in 2010 and is level four qualified.

A due diligence specialist, Hewitt has had a hand in a number of thematic reviews around risk profiling, centralised investment propositions, investment advice at banks and RDR compliant adviser charging.

During his time at the FSA, Hewitt encouraged paraplanners to challenge IFAs over suitability reports when they do not give enough weight to client’s specific needs and objectives.

Hewitt, who frequently speaks at adviser and paraplanner events, has also given the message to firms that “size doesn’t matter” when it comes to due diligence.

Technical specialist Percival will set up his own training and consultancy firm next month after ten years with the regulator.

He was previously an IFA before taking up a role as training and compliance officer at Fiona Price & Partners.