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Robos under fire over suitability and disclosure failings

Robo firms’ shortcomings around suitability, fee disclosure and identifying vulnerable clients have been highlighted in findings from an FCA review today. The regulator reviewed seven firms offering online discretionary investment management services and three firms giving automated advice. The FCA says service and fee-related disclosures at most online discretionary investment management firms in its sample […]

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Adviser pay hits all-time high of £93,000

Adviser pay has reached a new record, according to landmark research into the profession by recruitment consultants BWD. Nearly 1000 people took part in the survey, run jointly with Money Marketing, around half of which were financial advisers. Average total earnings for employed advisers reached £93,100 in 2017, up from £81,500 in 2016. For self-employed […]

Phil Wickenden: Loyalty is more important than price

Mifid II and rules on inducements are shaking up the thinking of many providers in relation to what they do for advisers, including what support they deliver. And rightly so. What providers should spend their support budgets on is a big concern. But while some are looking at the burden of regulation as a convenient […]

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FOS appoints former Which? boss to lead review into complaints failures

The Financial Ombudsman Service has appointed Money and Mental Health Policy Institute vice chair Richard Lloyd to lead an independent review into its complaints handling process. The former Which? executive director has been charged with producing a report into FOS’ practices after a Channel 4 documentary earlier this year suggested a number of failures at […]

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