Groups join forces to host UCIS seminar

Three leading providers of unregulated collective investment schemes (UCIS) and a major IFA service provider firm are set to host a series of educational seminars for advisers later this month.

RDR rules dictate financial advisers must be able to both ‘consider’ UCIS and understand how they work if they are to remain independent.

An investigation by the FSA last July into IFAs identified non-compliant recommendation of UCIS products by the vast majority of IFA firms investigated.

The FSA has publicly stated UCIS compliance will be one of its central areas of scrutiny in 2011, and any IFA found to have provided unsuitable advice on UCIS may face FSA restrictions.

Future Capital Partners (FCP), a £6bn alternative investment specialist, has teamed up with Managing Partners Capital, Chancery and specialist IFA service provider threesixtyservices, to host 13 educational events across the UK and Northern Ireland, running from 25 January to 9 February.

The events are chaired by Investment Week’s editor Lawrence Gosling.

Piers Denne, head of sales and marketing at FCP, said: “UCIS can provide important investment diversification within a client’s portfolio, offer excellent downside protection, and have significant benefits for investors’ tax situation.

Advisers can register at www.ucisroadmap.co.uk.