FCA to quiz advisers on purpose of their due diligence

The review, which is "kicking off now" with work to be done mainly in the early new year, will look at how advisers assess products and services and what barriers they may be facing in the process, he said. It will scrutinise a range of advisory firms who engage, from a series of different angles, both independent and restricted, and will cover outsourcing, he said. Percival (pictured) explained the review was needed after FCA research showed advisers in the past were failing mainly in three areas: inadequate due diligence, inadequate consideration of cost, and risk profiling and mapp...