IFP to issue wrap guidelines

The training body will mail its 1,500 members at the end of this month outlining the potential pitfalls presented by the growth of the wrap market. The IFP has been working with the regulator to draw up the advice. Chief among its concerns is that IFAs may be tempted into action that falls outside the scope of their qualifications and regulatory permission. Nick Cann, chief executive of the IFP, said: “In the past, when all business was done through an investment house, procedures were in place which meant it was very difficult for someone with the investment adviser qualification to take...