Cost of advice: 11 things you need to know about the FCA's review

Eleven things you need to know about the FCA's cost of advice probe

clock • 4 min read

One financial advisory business and one wealth manager are likely to be referred to the regulator's enforcement division for failings related to charges disclosure.

What did the FCA do? The Financial Conduct Authority (FCA) has been assessing firms' compliance with rule changes introduced at the end of 2012 following the Retail Distribution Review (RDR). This was the second element of what is expected to be a three-part probe. What was it looking for? The main point of this latest tranche of the FCA's review was to look into charges disclosure - do clients know what they're paying, in cash terms, for initial advice and ongoing services? Are they aware fees could climb under a percentage model? That sort of thing. How did it do it? We'll lea...

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