FCA: Some advisers failing clients on charging disclosure

In the first part of its thematic review into how firms are implementing changes brought about by the Retail Distribution Review (RDR), the regulator found that there was a lack of understanding among retail investment clients about the cost of advice. The FCA said: "We were pleased to find that many firms had tried to create documents clearly outlining the charges a client would pay. But we also found that some firms are not yet meeting our rules. "Improvement was most needed in the disclosure of adviser charges." Advisers were not, for example, outlining the cost of their service...