Are you sending clients in the right direction?

In its final months as the regulator, before handing over to the Financial Conduct Authority (FCA) at the beginning of April, the Financial Services Authority (FSA) published several guidance documents to assist firms with the quality of advice they provide. Last year, it also conducted a mystery shopping exercise, looking first-hand at whether or not customers have been receiving suitable investment advice. In February, it published its findings in a report called Assessing the quality of investment advice in the retail banking sector and, if the results are in any way indicative of the...