Planning with confidence: IFA financial adequacy assessments

In June 2020, the Financial Conduct Authority (FCA) issued FG20/1 Our framework: assessing adequate financial resources setting out its expectations of how firms should determine whether they have adequate financial resources.   Many parts of the UK were in lockdown at the time, and financial services companies were still adapting to the challenges of working remotely. Since then, they've had to contend with the cost of living crisis and new regulation such as the Consumer Duty. It's understandable that numerous firms have failed to fully grasp what's entailed in FG20/1. Given the ple...