TITLE

TCF warning for IFAs on platform migration

AUTHOR(S)
Scott, Tracey
PUB. DATE
June 2009
SOURCE
Money Marketing;6/4/2009, p12
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the issue concerning the decision of independent financial advisers (IFAs) to recommend only wrap to some if its customers in Great Britain. The Financial Services Authority (FSA) stresses that the move may subject IFAs for violating its treating customers fairly (TCF) regulation. The agency stresses that advisers should make wrap available to all of their clients and must be able to provide valid explanation for introducing or not introducing wrap to customers.
ACCESSION #
42010433

 

Related Articles

  • 'Wraps will eliminate providers from chain'. Henshall, Angela // Money Marketing;5/6/2004, p16 

    Reports that wraps could see product providers eliminated from the independent financial advisers distribution chain altogether, according to financial services software company Aquera. Belief that the introduction of a fully functioning wraps will make providers' role redundant; Investments...

  • Nucleus mission. Moore, John // Money Marketing;7/31/2008, p25 

    The article discusses the impact of wrapping up investments of clients in Great Britain. It examines the preparedness of clients in paying a premium for a wrap service. It then explores some issues important to a wrap platform, including its transparency, overall charging structure and...

  • The real wrap. Child, David // Money Marketing;2/17/2005, p56 

    The article provides information on wrap accounts. Technology can make it easier for the IFAs to provide an ongoing holistic financial planning service to a larger number of clients. This is what wrap accounts aim to do--enabling IFAs to manage their client's financial affairs according to their...

  • Are you being served?  // Money Marketing;2/15/2007, p56 

    The article discusses the need for providers of investment products with high commission to focus seriously on the service they provide to investment advisors. Even though more advisers, today, are using a form of fee structure, product providers are still creating products which feature hidden...

  • Date with destiny. Wilson, Bruce // Money Marketing;12/21/2006, p19 

    The article reflects on the author's view on why wrap accounts and profitability have the biggest impact for independent financial adviser sector in Great Britain. According to him, WRAP gives an opportunity for the Institute of Financial Accountants to change the unhealthy reliance on life...

  • IFAs keep ducking slings and arrows.  // Money Marketing;12/21/2006, p19 

    The article reflects on the author's view on the performance of independent financial advisers in 2006. The author stresses that funds have delivered some excellent returns and there is more planning and asset allocation going on. In addition, the financial services industry has also faced...

  • Value victors. Bradshaw, Paul // Money Marketing;11/6/2003, p44 

    Part II. Discusses the hypothesis that the evolution of wrap platforms creates the potential for significant value transformation among independent financial advisers (IFA). Factors that limit value in the IFA market; Importance of wrap technology; Issues arising from the future potential...

  • Taking the wraps off platforms. North, Kim // Money Marketing;7/22/2010, p32 

    In this article the author calls on independent financial advisers (IFAs) to be knowledgeable on true wrap costs of their platforms to treat clients equally and to stop bigger fund houses negotiating deals.

  • Younger IFAs are wrap fans. Shaw, Sam // Money Marketing;1/4/2007, p3 

    The article reports on the study conducted by Standard Life PLC concerning age of independent financial advisors (IFAs) using wraps in Great Britain. The study found out that the average age of principal in a wrap-based firm is 44, showing 11 years younger than the average age of IFAs which is...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics