We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

In association with

Home > Regulation > UK Regulation

By Marc Shoffman | Published Jul 05, 2012

Ascentric backs ‘agent as client’ principle

Mike Morrow, sales and marketing director for the wrap, welcomed confirmation from the City watchdog that three-way agreements between discretionary managers, advisers and clients were unnecessary.

He said: “The agent as client principle is an established old legal principle. We have always chosen to use this. The agent has always been the intermediary. This means the adviser does not require any extra permissions.

“It is an established way of providing this service.”

The FSA guidance said when an advisory firm appoints a discretionary manager and deals directly with them, the adviser becomes a client of the discretionary manager.

visible-status-Standard story-url-Ascentric cips.xml

Most Popular
More on FTAdviser