Sense prevails over Mifid II with IFAs now not expected to tape calls. Instead they can take a written note at key moments instead.
It all sounds like the directive views what IFAs do as a sales process, when one suspects most IFAs would say it's a bit more complicated than that to say the least.
It means that most IFAs will not have to keep call recordings for five years an expensive requirement. However wealth managers will have to.
Bigger firms will also be interested to see if some of the Mifid obligations are relaxed as Brexit is negotiated. My view is that this is unlikely as the UK stance on financial services is to keep things as compatable as possible until we see if the City can retain that passport.
The coming suitability review due to report in June may make difficult reading for advisers according to Money Marketing.
The problem is presented as one of disclosure though that seems to mean disclosure of charges according to the various expert comments.
David Penney, who works at Penney Rudder and Winter, says he fears the pension review may be repeating itself over the issue of pension transfers. In a previous guise Penney, now an advisers, worked at the FSA on the review.
IFAP changes its home page amid concerns about the search facility for local advisers which had been given less prominence and saw leads falling according to its adviser critics.
Martin Gilbert talks to Professional Adviser about Aberdeen’s merger with Standard Life.
Miton fund manager Anthony Rayner discusses the political risks that markets care about though he says they do tend to move on from time to time.
Alexander House has teamed up with the Daily Mail to create IFA Timber House. May not be popular with their peers but quite a powerful brand to associate with of course.
The Independent suggests EU citizens are struggling to get mortgages due to Brexit.
Most advisers have not responded to the FSCS consultation according to a New Model Adviser survey. Not sure this one wasn’t worth answering. There are a lot of quotes from advisers who felt it wasn't worth their while. It could be a game changer.
