Networks say FSA must help firms after AR advice concerns

In its first Retail Conduct Risk Outlook, the FSA said economic conditions have proved extremely challenging for many advice businesses by dragging on income and profitability. It added that its supervisory work suggested networks are not doing enough to ensure the quality of advice at their AR firms is up to scratch. But Keith Richards, group distribution and development director at Tenet, said the two issues were linked, with firms unintentionally stepping back from compliance to address a slump in business levels. He called on the FSA to do more to ease the cost pressures on bus...