The Financial Conduct Authority (FCA)’s thematic review into retirement income advice found a “mixed picture” among practices at the advisory firms it reviewed.
The watchdog released the findings of its review today (20 March) and found examples of both good and bad practice among IFA businesses. Its findings were drawn from a representative sample of 977 firms that responded to its data survey and a desk-based review of the advice models and advice files of a non-representative sample of 24 firms, the FCA explained. The document said: "The review of advice models revealed a mixed picture across the firms we reviewed. Some firms had evolved their approaches and adapted to the post-freedoms landscape. "They had clearly detailed processes, s...
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