Wealth management platform Nucleus has partnered with former Financial Conduct Authority (FCA) technical specialist Rory Percival to launch a financial adviser-aimed white paper on the rules and regulations around suitability.
It provides IFAs with information and practical action points on making sure their businesses are compliant.
As part of the collaboration, Nucleus and Percival host masterclasses in Edinburgh on 14 May and Birmingham on 21 May.
In the workshop, Percival will explain the FCA’s approach to assessing suitability and will discuss the key questions the FCA asks when undertaking a client file review.
Myriad of reforms
Barry Neilson, chief customer officer at Nucleus, said: “This comprehensive white paper aims to help advisers make sense of the various requirements suitability brings, how they apply to their business and we hope they find it useful in helping in their advice processes.
“While the main rules around suitability have stayed the same, advisers have had to adapt to a fluid regulatory backdrop, with the likes of Mifid II and product intervention and product governance (Prod) coming along and clouding the waters.
“Along with the likes of pension freedoms and defined benefit transfers, there is a myriad of reforms and regulations that now go into the advice process; and, as such, it is a good time for advisers to review how they deliver advice to their clients.”
