Advisers call on FCA to limit direct provider contact with clients

Some have suggested the wide-ranging ‘law of agency' should be officially recognised and enforced by the Financial Conduct Authority (FCA) when providers deal with advised customers. Concerns have been raised following a number of cases in which advisers have accused providers of inappropriate contact with clients the advisers ‘introduced' to them. In the most recent example, Aegon was accused of poaching dozens of an adviser's clients for its direct-to-consumer (D2C) platform, but the FCA said the provider had broken no rules. A poll of 76 advisers by Professional Adviser found mo...