Advisers should expect next steps “soon” for the Financial Conduct Authority’s (FCA) ongoing advice services review, delegates heard.
Speaking at Defaqto's Future of Advice conference yesterday (26 November), FCA head of department for advisers, wealth and pensions Nick Hulme confirmed that the regulator is continuing to work on its review of ongoing advice service. This comes after the FCA wrote to 20 of the UK's largest advice firms to request information on their ongoing advice service in line with the Consumer Duty. The watchdog asked for data on the number of clients due a review of the ongoing suitability of the advice as part of the service, how many received that review, and how many paid for ongoing advice ...
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