Restricted advisers told to wear red to 'warn' clients

Buried in last week's Policy Statement on adviser charging, the regulator says colours including ivory, black, grey, and white could help avoid customer "confusion" about the status of the adviser they are dealing with. Restricted advisers should wear mostly red to "warn" consumers of their limited market reach while multi-tied practitioners - who will also be called 'restricted' from 1 January 2013 - should "mix and match". The FSA says if it presses ahead with the rule it may conduct mystery shopping exercises to ensure advisers are complying. Guidance on clothing may be neces...