Treating advisers fairly

The Financial Services Authority's (FSA) latest thematic work on how firms are adapting their advice process to its Treating Customers Fairly regime has been met with strong criticism by advisers. The work, which looked at IFAs, banks, a product provider and a distributor, found serious problems - including inadequate advice given to clients. However, it was not the findings that caused such a stir within the IFA community, but the way in which they were reported. Because while the accusations are grave and should be taken seriously, the FSA made a pivotal mistake by only categorising the...