IFAs dormant clients worry

A number of IFAs said up to half of their clients are “dormant” and are still paying monthly fees despite receiving no service from their advisers. This, they said, could lead to the FSA accusing them of not honouring a duty of care to paying customers. The regulator is set to enforce the first stage of its TCF programme in March saying all firms should have started implementing the initiative, designed to ensure “improved outcomes” for all retail customers. Advisers’ concerns follow a Professional Adviser panel survey which revealed 83pc of intermediaries segment clients by separating t...