Better financial advice needed

12 July 2011 at 17:21

Better financial advice needed Brits should be given clearer fiscal advice and urged to speak to independent financial advisers (IFAs), it has been claimed.

According to Technology and Technical managing director Kim North, Financial Services Authority (FSA) chief executive Hector Sants is right to raise concerns about the Retail Distribution Review (RDR) blocking access to advice.

Ms North said that she hopes the rebranding of the FSA into the Financial Conduct Authority will see the regulatory eye cast over firms that have not being compliant with the rules.

Writing for MoneyMarketing.co.uk, she said: "As I have helped many IFA firms ensure they are compliant, I believe more regulator emphasis should be on firms that receive complaints, do not complete their RMR correctly, do not have straight-thorough processing using technology properly, do not put clients first and do not have a competent compliance officer on site."

The comments come on the same day that the FSA charged two A20 directors tens of thousands of pounds for their non-compliance.

Posted by Tony Miller ADNFCR-3006-ID-800619743-ADNFCR

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