The regulator has written to 20 major financial advice firms to request information on their ongoing advice charges, signalling its intention to place a spotlight on the ways firms are revising their approach in line with the Consumer Duty’s fair value and consumer understanding requirements.
In Money Marketing, TCC’s Technical Director, David Boyhan, outlines what firms can expect from the FCA’s next steps on ongoing advice services – and gives some actionable tips on what steps they can take now to prepare effectively.
Read the article here.