The regulator has found larger, restricted and firms tied to networks to be more consistent in providing suitable advice than their smaller, independent and directly authorised counterparts.
In its latest suitability review the Financial Conduct Authority (FCA) said it was pleased to find advice given by regulated financial advisers was suitable in 93.1% of the cases but found slight variances in the types of firms it regulates. The regulator had assessed 1,142 individual pieces of advice given by 656 firms against its suitability and disclosure rules. It found restricted advisers were more likely to give suitable advice than their independent counterparts, while appointed representatives...
Regulator faces further pressure in wake of scandal
Vote held 17 June
Headed up PFS for eight years