"I am seeing the magic letters 'TCF' appearing increasingly often in magazines like RealAdviser. However, while the theory of Treating Customers Fairly seems relatively straightforward, experience of past regulation suggests the practicalities might not be so easy. Does the panel have any suggestions about how TCF can work in matters such as investment and financial planning?"
Nick Cann, Institute of FInancial planning As the FSA has discovered with its thematic visits, mystery shopping exercises and TCF, many advisers are pretending to offer fee-based services so they can still call themselves independent. This really isn't good enough and, if the advisory business really wants to be seen as both professional and a profession, there are still a number of fundamentals that must be dealt with. The market is starting to repolarise itself to deal with remuneration and winning business models are starting to develop and flourish. Those providing advice and service a...
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