IFAs not required to use more than one wrap - FSA

Speaking at a recent wrap conference in London hosted by Australian firm the Dealers Group, a representative of the FSA pointed out as long as the adviser ensures placing a client’s assets on a wrap or supermarket platform is in their best interests and suitability can be shown, it does not matter how much business is placed on a single platform. Katherine King, of the retail policy division at the Financial Services Authority, said the FSA’s priority was to ensure advisers had carefully researched whether placing assets on a wrap was the most suitable way of handling client assets. She...