Tackling the thorny issue of liability

By using fund supermarkets and multi-manager, advisers can improve the monitoring of their client portfolios and reduce the risk of litigation

For observers of the intermediary sector, liability awareness has been a growing feature of IFA practice management in recent years. Of course, it is easy to attribute this solely to the widely reported but few IFA sector mis-selling investigations involving personal pensions, endowments, split-cap investment trusts and, more recently, so-called precipice bonds. But to think adviser liability management is necessarily a negative issue and one that relates only to mis-selling is to underestimate the scope of this important topic. Put simply, liability management is an acceptance that, wit...