How to meet the FSA's independent advice rules

Following up on a promise at the end of 2011 to provide more help to IFAs on how they can stay independent after RDR implementation, in February the FSA issued a guidance consultation. Having received plenty of feedback from advisers, it has now confirmed its stance and, while there were only a few changes, it was a paper that will be essential reading for all advisory businesses. 1 The team approach One key area where advisers had raised concerns was around the deployment of a team approach to the advice process, where the client has contact with more than one person. The FSA confi...