What the FCA's ongoing advice review means for advisers
Session overview:
There was a sigh of relief across the industry when the FCA’s long awaited ongoing advice review dropped. However, firms should not be complacent. The FCA outlined clear expectations for advice firms, specifically addressing clients who declined or did not respond to review offers. This group represented 15% of cases in the FCA’s sample and could be much higher within individual firms. Firms are now expected to focus on this cohort and ensure they can evidence the delivery of all required services. We’ve partnered with Alex Paschalis and Dorian Cameron of Thistle Initiatives as they unpack the FCA’s expectations, from how to ensure compliant reviews, to when refunds may be necessary, and whether certain clients should remain in ongoing advice arrangements.
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