More than one in three financial advisers still do not know whether they can legally give their clients financial advice on real estate investment trusts, according to research from Reita.
The survey of over 250 financial advisers reveals 34% do not know whether they can legally give their clients financial advice on REITs, either individually or as a firm. While 39% claim they already have permission to advise on REITs, the Association of Independent Financial Advisers (AIFA) says this is not necessarily the case because advisers have insufficient information to make this judgement. Fay Goddard, deputy director general of AIFA, says: “We are not surprised at the results of this survey as there has been very little information from the FSA on the regulatory status of REIT...
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