Due diligence processes have come under the spotlight once again as a row escalates among advisers over the scale and depth of provider due diligence.
Some advisers have come out in favour of greater due diligence and checks imposed by providers, regardless of the request and the product in question.
Other advisers, however, weighed into the debate, claiming that no provider should be going directly to the client to do due diligence checks, bypassing the adviser in the process.
Victor Sacks, director at VM Associates, said the provider should always write to the adviser first, informing them that checks will be carried out, and then write to the client.
"That way", he said, the "adviser can ensure the relationship is not affected and the element of trust remains".
Also in Financial Adviser this week, economists and investment managers argued in favour of building up exposure to Japanese securities within a diverse portfolio, claiming the appointment of Yoshihide Suga as prime minister of Japan would be beneficial to the economic growth of the country.
This week's Financial Adviser also secured an exclusive interview with economist and author Dr Dambisa Moyo, and provided a round-up on the ongoing Keep Fees Fair campaign, which has gained great momentum at Westminster.
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Until we meet again in person, take care
Simoney Kyriakou
To find out more about our #KeepFeesFair campaign, email simoney.kyriakou@ft.com
