Due diligence: what you need to know to appease the FSA

Speaking at a recent event on due diligence, the law firm, which acts on behalf of thousands of clients who claim they were mis-sold investments, warned advisers against over-reliance on product promotions. Advisers must have a clear "narrative" in place to explain why they chose certain investments in case they find themselves quizzed by the FSA or the courts, the law firm said. "Advisers do a lot of risk profiling on the client but many don't actually look at the product. It should be the product first," said Gareth Fatchett, (pictured) partner at the firm. "The FSA and a court w...