Regulation 

Guide to suitability and duty of care

  • Describe what the regulator expects from advisers around duty of care and suitability.
  • List what has happened in global markets and why clients might be concerned.
  • Identify how to deliver financial solutions that meet client needs against this backdrop.
CPD
Approx.60min
Guide to suitability and duty of care
How to help deliver financial solutions that meet client needs
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At a recent FTAdviser event, the Financial Conduct Authority's proposals about duty of care were the main topic of discussion.

The briefing, hosted at the Financial Times in London, brought together speakers and attendees from across the wealth management and advice industry.

Sir John Redwood of Charles Stanley gave his thoughts on the outlook for global markets this year and whether client concerns about a recession are founded.

Then Sebastien Petsas, director, regulatory consulting at Duff & Phelps, moved the discussion onto the FCA’s duty of care consultation paper and what the regulator expects from advisers when it comes to duty of care and suitability.

And advisers gathered at the event discussed what their concerns were about the duty of care proposals, as well as how they deliver financial solutions that meet client needs.

Read on to find out more about the topics covered during the suitability and duty of care briefing, in association with Charles Stanley.

This guide is worth an indicative 60 minutes of CPD.

Contributors to this guide include: Damian Fantato, deputy editor of Financial Adviser; Sebastien Petsas, director, regulatory consulting at Duff & Phelps; Sir John Redwood, chief global strategist at Charles Stanley; Barry Bennett, principal of Bennett Wealth Planning; Mitesh Patel, head of compliance at Saunderson House; Will Walker-Arnott, investment manager at Charles Stanley; Gemma Barker, a trainee adviser at KMG Independent; Financial Conduct Authority.

The report, which can be read by clicking the link in the image above, qualifies for an indicative 60 minutes' worth of CPD. 

Ellie Duncan is features editor at FTAdviser and Financial Adviser

CPD
Approx.60min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. According to Mr Petsas, a regulatory commissioned review of an advice company is a holistic view of the company, that can feel very what?

  2. In describing the FCA's proposals around duty of care, Mr Fantato said a number of consumer bodies had called for it, and that the proposals had been what?

  3. Mr Redwood says the "main problem" when it came to central banks "overdoing it" started with which central bank?

  4. Mr Redwood says: "We think there will be slower growth this year, most notably in the second half." True or false?

  5. Mr Petsas says most advice companies will have at least what with customers?

  6. According to Mr Walker-Arnott, the future of wealth management is what?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Describe what the regulator expects from advisers around duty of care and suitability.
  • List what has happened in global markets and why clients might be concerned.
  • Identify how to deliver financial solutions that meet client needs against this backdrop.

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