FSA to shift 'unequal' provider/adviser relationship

Speaking at the Institute of Financial Planning’s (IFP) Charting New Waters conference, Jonathon Fischel, head of investments in the FSA’s small firms division, said the regulator recognises the inequality between providers and distributors in Tcf but claims it can operate at a high level to change this. He is hopeful the relationship will become more equal over time, but says in the meantime small distributors such as sole traders should approach Tcf in a “proportionate way”. He states: “We don’t expect a sole trader to write a review of the firm’s Tcf practices to themselves. But th...