Insistent clients: FCA's Percival flags historic poor advice examples

FCA technical specialist Rory Percival said the regulator had come across cases of advisers seemingly conducting business on an 'insistent client' basis to side-step its suitability requirements, and of advisers oddly working on a part-insistent client, part-advisory basis. Percival, speaking at the Retirement Planner Forum and Awards in London on 17 June, revealed some of the "very significant problems" the FCA had uncovered during a probe last year into enhanced transfer value (ETV) pension transfer advice. Percival told delegates that the issue of insistent clients has been the "ov...