NMIs: The ongoing sting in the tail of independence

NMIs: The ongoing sting in the tail of independence

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Non-mainstream investments will be beyond the pale for the majority of clients but the FCA continues to scrutinise advisers' understanding of them. Aileen Lynch reviews the rules...

Non-mainstream investments (NMIs) have found themselves receiving more attention recently than you might expect, given the amount of market share they actually take up. However, this scrutiny has been less to do with the products than their importance in the process of remaining independent. Before we get to the ins and outs of that sticky wicket, take a look at the box-out (below) to see what is included when I refer to non-mainstream investments. By their very nature, NMIs are niche, high risk products which are almost certainly not appropriate for ‘ordinary' retail investors and ar...

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