Advisers welcome FCA clampdown on firms delegating advice

Advisers said they did not see the benefits to operating in this way, though one admitted offers are sometimes presented in a way that appears attractive. On 30 November, the Financial Conduct Authority (FCA) warned advisers of their responsibilities if approached to delegate their regulated activities - such as providing pension switching advice - to unauthorised third parties. It said authorised firms must be aware of the "serious implications" of improperly delegating regulated advice to an unauthorised firm. The regulator had found some firms whose entire business model was bui...