FSA probes advice standards at firms using model portfolios

Speaking at a Personal Finance Society (PFS) event in London today, FSA head of investments department Linda Woodall said this would involve assessing businesses which use model portfolios, refer clients to discretionary managers or have distributor influenced funds (DIFs). Woodall said: "We want to know whether clients are receiving the associated advice to a standard that meets current requirements but also with a view to the position post RDR." Woodall also revealed the regulator is to look at the quality of advice when firms recommend clients to invest into single premium investme...