Mabel CEO Lawrence Cook surveyed six discretionary fund managers (DFM) about their views on, and response to, the FCA’s thematic review of retirement income advice. Here is what he discovered…
The Financial Conduct Authority's (FCA) TR24/1 thematic review of retirement income advice found a "mixed picture" regarding the quality of advice delivered and the outcomes for consumers. Key areas of concern included incomplete fact-finding, inconsistent risk profiling, and issues with ongoing advice. The review highlighted that some firms were not adequately considering individual circumstances when determining income withdrawals and that the risk profiling process was not always robust or aligned with customer needs. 1. Customer information and fact-finding The review foun...
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