It is "essential" clients are given prior notification when their fund holdings are converted to post-RDR 'clean' alternatives, but individual consent is not necessary, the Financial Conduct Authority (FCA) has outlined in finalised guidance on bulk transfers to clean unit classes.
Among the feedback the FCA received to its initial guidance consultation in February was the difficulty of assessing whether bulk conversion would be in the best interests of individual clients. The...
According to Cicero report
Adds 24 staff, three offices and £275m AUA
Launches Junior ISA and retirement accounts
Schroders tops 2019 list
24 companies wound up