Tag Archives: suitability report

What the FCA found when it did a Suitability Assessment of the IFA Sector in 2017

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The Independent Financial Advice (IFA) sector was given a clean bill of health by the FCA in May 2017. Or was it? A suitability review of 1,142 separate pieces of advice given by 656 firms against the rules in the Conduct of Business sourcebook showed that in 93.1% of cases, advice provided was suitable. Interestingly […]

The Myths Around Suitability Reports And How To Be A Hero

A common misconception is that the suitability report has to ‘round up’ the whole process, discussions and background information that has occurred to date. It doesn’t. It simply forms part of the process of telling the story and, from a compliance perspective, will be read in conjunction with the rest of the data and information […]

IFAs! Have your work double-marked for suitability

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‘Can help iron out rough edges’ Advisers should have their work checked over to make sure standards remain consistent and high, according to Threesixty Services managing director Phil Young.  Small, independent and directly authorised firms performed slightly less consistently than their larger and restricted counterparts in the regulator’s recent suitability review, but Young argued even […]

UK IFA Suitability Report Construction Guide

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Suitability Report Construction Guide Just Complete Your Details Below Name Email

FCA tells firms to revisit past advice after suitability review

FCA tells firms to revisit past advice after suitability review The Financial Conduct Authority (FCA) has said firms should revisit advice given in the past after it found unacceptable examples of suitability reports as part of a review which involved 700 firms. In April 2016 the FCA started the review when it asked firms for […]