Rory Percival is to launch a risk-profiling guide later this week, ahead of the incoming MiFID II regulation requiring advisers to identify and mitigate limitations on tools used in the advice process.
The former Financial Conduct Authority (FCA) technical specialist, turned consultant, has assessed the six most popular risk profiling tools available in the market on the back of regulatory guidance from 2011. The then Financial Services Authority's (FSA) guidance found nine of 11 of the market's key risk profiling tools were working inadequately. The MiFID II regulation, which comes into effect in January 2018, will require advisers to assess risk profiling tools to see whether they are fit for purpose. Advisers will then have to identify and mitigate any limitations they pose to th...
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