FSA: Advisers must provide ongoing service for legacy trail

In its latest quarterly consultation paper, it says advisers must provide the customer with an ongoing service in return for the trail. The FSA has also clarified to IFAonline that advisers can then add a supplementary adviser charge if they feel the legacy trail does not sufficiently cover the ongoing service they will be providing to their new client. Firms will have to tell the client they have applied for the transfer of trail, and how much they are due to receive. In its March policy statement on adviser charging, the regulator suggested the transfer of trail should not be per...