Planning with confidence: IFA financial adequacy assessments

Who does FG20/1 apply to?

clock • 5 min read

What does a robust assessment of financial adequacy involve for IFA firms? Tony Lewis explains all...

In June 2020, the Financial Conduct Authority (FCA) issued FG20/1 Our framework: assessing adequate financial resources setting out its expectations of how firms should determine whether they have adequate financial resources.   Many parts of the UK were in lockdown at the time, and financial services companies were still adapting to the challenges of working remotely. Since then, they've had to contend with the cost of living crisis and new regulation such as the Consumer Duty. It's understandable that numerous firms have failed to fully grasp what's entailed in FG20/1. Given the ple...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

Majority of advisers have segmented client base

Majority of advisers have segmented client base

‘We try and offer advice fairly to all of our segments’

Isabel Baxter
clock 19 April 2024 • 2 min read
Justine Randall: There has never been a better time to be an IFA

Justine Randall: There has never been a better time to be an IFA

Number of advisers not high enough to service client demand

Jenna Brown
clock 18 April 2024 • 2 min read
Is your advisory firm menopause-friendly? Five key areas of focus

Is your advisory firm menopause-friendly? Five key areas of focus

Why it makes business sense to talk about menopause

Jenna Brown
clock 17 April 2024 • 3 min read