From the Ed: Now listen carefully, I shall say this only once…

Yes, this is plain nonsense, but it is at least feasible and, according to the FCA, a client’s worst nightmare. For these four words represent the most common uses of ‘misunderstood’ industry language. You’re probably aware by now that the regulator has completed its first tranche of research into how firms are complying with new rules set out following the RDR (there are teething problems but, generally, it’s pleased with firms’ efforts). Part of the study was conducted by NMG Consulting, which assessed, among other things, consumers’ understanding of firms’ charging structures. It a...