The FSA's final RDR paper has made it clear IFAs must have ‘sufficient knowledge' of structured products to remain ‘independent'. So how can IFA firms ensure their RIs get up to speed?
In June 2009, the FSA stated that under the proposals for the RDR, financial advisers who wished to be deemed ‘independent’ and to trade under that description, would have to include structured products within the universe of retail investments they researched and could offer to clients. The wording of the FSA’s proposal was this: “We would expect that if a structured investment product would best meet the client’s needs and risk profile, then an independent adviser should have sufficient knowledge of these products to be able to recognise this and make a recommendation to buy this produ...
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