Editor's view: What next after FCA's ongoing advice services findings

The editor's Friday Night Takeaway from 28 February

Jen Frost
clock • 4 min read

Questions remain after the FCA shared its ongoing advice services findings on Monday (25 February).

Professional Adviser senior reporter Isabel Baxter and I spent the day canvassing for reactions to the FCA's ongoing advice services update, with the watchdog having found that clients of 22 of the biggest advice firms had not received suitability reviews in fewer than 2% of cases going back seven years. This figure wasn't all that surprising, compliance specialists told us. One stat that will jar with some – in 15% of cases, clients had not engaged with their adviser when asked for crucial information else had declined a review. PIMFA's Simon Harrington told us the trade body is conf...

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

All the advice firm acquisitions that have taken place in 2026

All the advice firm acquisitions that have taken place in 2026

Keeping track of the ongoing consolidation in the advice industry

Professional Adviser
clock 12 November 2026 • 5 min read
Small firm, weaker hand: The reality of selling a financial planning practice

Small firm, weaker hand: The reality of selling a financial planning practice

'The strongest position is an attractive, prepared practice whose owner has choices'

Gareth Fatchett
clock 10 November 2026 • 4 min read
Adviser revenue remains main bonus metric at majority of large firms

Adviser revenue remains main bonus metric at majority of large firms

Firms focused on organic growth but miss incentive opportunity

Jenna Brown
clock 10 November 2026 • 3 min read