Adviser may have to refer clients to struc prod specialists post-RDR

A fundamental lack of understanding amongst some advisers of how structured products work and their suitability for different clients has been identified by the regulator as a key factor behind inappropriate sales of Lehman-backed products to consumers. Its report, Quality of advice on structured investment products, could pave the way for heightened consumer complaints against advisers as it highlights a catalogue of failings around how the risk of the products was assessed. Three adviser firms have already been referred to the FSA's enforcement division over failings relating to Lehman...