Guardian to help advisers prepare for FOFA
Guardian Advice has joined the fray in attempting to ensure its advisers are ready for the new Future of Financial Advice (FOFA) regime.
The risk-focused dealer group announced this week it would be running comprehensive FOFA workshops in June to reiterate to advisers their key responsibilities under the new legislative regime, and coaching advisers in demonstrating the value of advice they provide to their clients.
Commenting on the workshops, Guardian Advice head Simon Harris said it represented a further step in the journey Guardian had embarked upon in educating advisers in becoming FOFA-ready.
“Our workshops will ensure advisers have the knowledge and tools to clearly demonstrate the value of the advice they provide to their clients,” he said.
“We’ve invested enormous resources, IP and time in our FOFA-readiness program and I’m confident all of our efforts will help protect our advisers’ businesses.”
Harris said what had been lost in the FOFA preparation by other groups was a focus on advisers creating stronger, more regular engagement with their clients.
He claimed this was an area Guardian has been deliberately focussing on in planning for FOFA’s introduction.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
