FSA to check IFA knowledge on property investments

Specialist IFAs advising wealthier clients on portfolio diversification into property investments showed no signs of giving unsuitable advice, according to a review undertaken by the regulator. However, with signs that sales of such products – all property investments except owner-occupied and buy-to-let – will spread to a wider retail base of less wealthy clients, the FSA says it wants to ensure unspecialised IFAs are up to scratch on the selling of such products. "As product providers broaden their marketing beyond specialist IFAs the possibility of mis-selling by advisers who do no...