No problem with regulation?

Although a recent FSA statement has created concerns that intermediaries who use wrap cannot describe themselves as independent, as long as they justify the advice given for each client they should encounter no regulatory problems

The FSA's brief statement and frequently asked questions (FAQ) on wrap issued in August of this year have created a flurry of opinions and more than a little misinformation around the use of wrap, and how this affects an intermediary's independence. The guidance was a result of a piece of thematic fact finding research by the FSA into the development of this market and its effect on advice. It is true that the FSA commented that an independent adviser should have regard for and access to the whole range of products available to address a client's needs when providing advice, but there is n...