Being the fall guy: Is liability for loss a sales aid?

clock

Is shouldering some of the liability for loss when giving advice really something to tell clients?

A little under a month ago, Stephen Gay, director-general of the Association of Independent Financial Advisers (AIFA), told a room of practitioners they should tell clients that buying their services allows them to transfer some liability for financial transactions. It could be a selling point for fee-based advice after the Retail Distribution Review (RDR), he said. “People do not understand that, when they buy advice, part of what they pay for is a transfer of the liability from their shoulders to the shoulders of professionals. There is redress there, and IFAs should push that a lit...

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 profession

London pushed out of top five wealthiest cities as millionaires exit

London pushed out of top five wealthiest cities as millionaires exit

Comes as Labour cracks down on non-doms

Sahar Nazir
clock 09 April 2025 • 1 min read
BoE governor assures chancellor that UK markets 'are functioning effectively'

BoE governor assures chancellor that UK markets 'are functioning effectively'

Banking system 'resilient'

Linus Uhlig
clock 09 April 2025 • 2 min read
Gilt yields increase as part of sell-off of government debt

Gilt yields increase as part of sell-off of government debt

Investor unloading of US Treasuries drags government borrowing costs higher globally

Jonathan Stapleton
clock 09 April 2025 • 1 min read