FMA has released guidance to help financial advisers give high quality limited personalised advice that is time and cost efficient and adopts the right level of compliance. This follows from a number of in-depth face-to-face consultations with AFA groups who provided some very helpful comments which assisted in shaping the guidance note.
Guidance Note: Client communications and record-keeping
Last week we published our Guidance Note on client communications and record-keeping. This is for AFAs who provide personalised advice services to retail clients and covers our communication and record-keeping expectations for all forms of personalised services including financial advice, investment planning services and discretionary investment management services.
