PFS and TISA to launch client ownership principles

The organisations have drawn up a draft document after consulting with a variety of advisers and two law firms, which outlines how advisers and firms should communicate with clients after they part ways. The principles are based on best practice and are intended to act as a voluntary agreement, asking parties to act in the best interest of consumers rather than fighting out contract covenants in court. They include allowing advisers to communicate with their clients for up to three months after leaving a firm and to share permitted information with their clients during that period. ...