Consumer duty
St James’s Place (SJP) has announced modifications to its charging structure for new investment bonds and pensions. The primary change is the removal of exit fees, transitioning to a structure comprised of initial and ongoing charges without early withdrawal fees. This format is already employed in SJP's
FCA
The Financial Conduct Authority (FCA) in the UK proposed a new "Consumer Duty" to ensure that firms provide higher standards of care for their customers. This duty aimed to ensure that consumers are provided with products and services that genuinely meet their needs and that they are not
Consumer duty
There Are 2 Types Of Investment Advice: ‘Independent’ And ‘Restricted’. It Is Also Possible To Obtain ‘Guidance’ (Or No Advice). If you are getting advice about investing your money, you need to know there are two different types of financial advisers – independent and restricted – and this can affect the advice
Consumer duty
The aim of this article is to explain the difference between consumer guidance and consumer advice within the financial services market. The source of this information is the Financial Conduct Authority (FCA). It is important that individuals understand the subtle but significant difference between the two. In certain circumstances it
Consumer duty
Hiring a Financial Advisor: Understanding the Costs Many people prefer to manage their own finances. Sometimes, however, it becomes necessary to hire a professional financial advisor to assist you with your financial affairs and investments. If you are managing many investments, if a lot of money is involved, or if
Qualifications
1.Be Approved by the FCA: The Financial Conduct Authority (FCA) in the United Kingdom conducts the "Fit and Proper" test to assess whether individuals are suitable to perform specific roles within the financial services industry. This is part of their wider initiative to ensure that firms and
Qualifications
Financial advisers in the UK must: Hold Relevant Qualifications: They need to have the necessary qualifications for the specific type of advice they provide. The Retail Distribution Review (RDR) standards set out the minimum level of qualification required. 1. Be Approved by the FCA: Advisers must be approved to perform
Qualifications
Financial Advisers are professionals who offer advice on financial matters and recommend suitable financial products. To practice as an IFA, individuals must obtain relevant qualifications and adhere to regulatory requirements. Here is an overview of some of the key qualifications: 1. Diploma in Regulated Financial Planning (DipPFS or DipFA) * Issuing
Consumer duty
Why Should I Use A Financial Adviser | 2022 Looking into retirement options and wondering what to do with your pension funds? Financial advisers can help you identify and achieve your goals by providing the crucial perspective and strategy you need. Keep reading for our top reasons to hire a financial
Debt
Dealing with personal debt in the UK can feel overwhelming, but with the right approach, you can tackle it systematically. Here are some steps and considerations to help you manage and reduce your debts: 1. Acknowledge the Debt: Recognize that there's a problem and commit to addressing it.
Consumer duty
Choosing a Financial Adviser Are you considering hiring a financial adviser to assist you with your financial matters? A professional financial expert can help you manage your wealth and savings. They can also help you with your investments and make sure you are on track for retirement. Before you hire
Consumer duty
New research shows those customers who receive financial advice can be better off on average by £40,000. Those who received financial advice in the 2001-2007 period had accumulated significantly more liquid financial assets and pension wealth than their unadvised equivalent peers by 2012-14. ‘The Value of Financial Advice’, produced
Consumer duty
For many investors, working with a financial advisor is an important part of planning for the future and making wise investment decisions. Finding the right financial advisor can make all the difference in the world when it comes to planning for the future, but getting started can be daunting. What
scams
If you are unexpectedly approached about an investment opportunity that seems too good to be true, it probably is. Fortunately there are steps that you can take to spot these scams and avoid risking your life savings. Read the full guide on how to “Scamproof your savings” from the Pensions