FSA outlines how to remain independent and use wraps

status

intermediaries must use whole of market approach for life and pension policies

Intermediaries must take a whole of market approach to packaged products sold via wrap platforms if they are to be classed as independent by the FSA. In a report issued by the regulator last week it said intermediaries would need to look across the whole of the market when recommending packaged products such as funds, personal pension or life assurance policies, investment trust savings schemes and stakeholder pensions. "Life products such as life assurance bonds and personal pensions come under our definition of packaged products, even if they have 'open architecture', meaning that their...