Aifa has hit out at an FSA study that used mystery shoppers to gauge whether intermediaries are meet...
Aifa has hit out at an FSA study that used mystery shoppers to gauge whether intermediaries are meeting advice-giving standards, claiming that removing the mystery element would make the exercise more useful. In a review of the process of treating customers fairly (TCF), the FSA examined a total of 50 small and large firms and mystery shopped a further 50 to determine whether the way advice was given adhered to TCF principles. The regulator found that, while there are many examples of good practice in the industry, six main areas still need improvement. These include a process for establi...
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