Revealed: The strong-arm tactics of UCIS salesmen

Tony Sanchez, director at alternative investment consultants Clara Capital, said providers have started telling IFAs unless they recommend their schemes the FSA will consider them restricted post RDR. Philippa Gee, principal of Philippa Gee Wealth Management, said a sales representative pitched her a UCIS invested in bridging loan finance recently using this tactic. She said he told her the widened definition of whole of market post-2012 means she must include the high-risk schemes in all fact-finds. But FSA policy paper 10/6 Distribution of retail investments states if a firm conclud...