FSA warns providers over adviser charging facilitation

The Financial Services Authority’s (FSA) recent letter to providers and platforms once again demonstrated that, while the Retail Distribution Review may have been five years in the making, its fate may well depend on the work done at the very last minute. In the letter, it expressed concerns that providers were potentially re-labelling existing remuneration as adviser charging without checking whether or not the client has agreed to it. Providers and platforms were also told they must ensure the client agreement is “obtained and validated”. Lack of trust For Kevin Morgan, managin...