FSA creator urges IFAs to re-open 'adventurous' client files

In an exclusive interview with Professional Adviser, Sir Howard Davies, executive chairman of the FSA between 1997 and 2003, says client risk appetites "might suddenly look a bit different" and suggests IFAs add the caveat "Are you prepared to lose it all?" to the fact finds of riskier customers from now on. "This is a very uncertain market and a difficult time to be a financial adviser," he says. "Some of the fact finds might suddenly look a bit different in the present circumstances. I would go back to some clients and say: 'You wanted a high-risk portfolio. Did you really mean that? ...