Larger, restricted and AR firms more consistent on suitability - FCA

Advice found to be 'suitable' in 93.1% of cases

clock • 3 min read

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 (AR) of networks also fared better than advisers who were directly authorised.  ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

1 million young people not in education, employment or training: Milburn

1 million young people not in education, employment or training: Milburn

“Not a record of passivity. It is a record of failure”

Cameron Roberts
clock 29 May 2026 • 2 min read
April IHT receipts down but net widens

April IHT receipts down but net widens

11 months from pensions falling within IHT scope

Jen Frost
clock 22 May 2026 • 3 min read
IPT collects £499m in April 2026

IPT collects £499m in April 2026

Lowest level for April in four years

Jaskeet Briah
clock 22 May 2026 • 2 min read