SIFA produces IFA 'checklist' for solicitors

The checklist, sent to SIFA members this week, assesses firms for independence, direct authorisation, fee-based remuneration, qualifications and their disciplinary history. It says it has been produced in response to the "mistaken", Law Society-led, belief solicitors must offer clients a choice of three IFAs when referring. This is "unfair" to clients, compliance director Ian Cockerill says, as it "shifts responsibility for the decision". "The better course is for solicitors to undertake due diligence on the proposed IFAs." SIFA managing director Ian Muirhead says the checklis...