Sir Howard Davies urges IFAs to review client files

In an exclusive interview with Professional Adviser, Sir Howard Davies, executive chairman of the FSA between 1997 and 2003, says client risk appetites "might suddenly look a bit different" and suggests IFAs add the caveat "Are you prepared to lose it all?" to the fact finds of riskier customers from now on. "This is a very uncertain market and a difficult time to be a financial adviser," he says. "Some of the fact finds might suddenly look a bit different in the present circumstances. I would go back to some clients and say: 'You wanted a high-risk portfolio. Did you really mean that? A...