Paraplanner Nathan Fryer has called for people "on the ground" to police what is going on between advisers and clients as "unfortunately you can't enforce ethics in regulation".
Commenting on the Financial Conduct Authority's (FCA) consultation on banning contingent charging, the Informed Choice paraplanner (pictured) described the plans as a "good thing," but added it was "quite a blunt instrument in terms of how to tackle [conflict of interest issues]." This morning, (30 July) the regulator said it was consulting on banning contingent charging for defined benefit (DB) transfer advice. It expressed concern too many advisers were delivering poor advice - much of it driven by conflicts of interest in the way they are remunerated. The FCA described contingent c...
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