Three quarters of IFAs in wrap migration TCF breach

Of the 4000 IFAs interviewed, the majority (52%) are only actively revisiting ‘selected clients’ to assess whether to move them to a platform. A quarter of adviser firms are only adding new clients to wraps while a meagre 19% are revisiting all clients to assess whether to move them. Only 4% are moving all clients to wraps right now. Chris Read, chairman of Dunstan Thomas, comments: “More than two thirds of adviser firms may be in breach of TCF by selecting specific groups of customers for migration to wrap rather than explaining the pros and cons of wrap to all customers and helping ...