Why it pays to be picky when outsourcing

The new regulatory environment has placed an even greater emphasis on knowing your clients, understanding both their attitude and capacity for risk and identifying the most suitable investment solution for them. But it does not stop there. The Financial Services Authority (FSA) has gone to great pains to stress the importance of assessing ongoing suitability and has provided a comprehensive list of what it considers to be the risks that need to be addressed when making these assessments. It is a challenge but the FSA, and its replacement, are unlikely to be in a forgiving mood as they...