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...
72% of people do not want pay for financial advice
Applied to whole of UK
Starts beginning of November
Yvonne Braun appointed executive sponsor