Keeping your options covered

Article Abstract:

UK accountants providing investment advice have yet to provide serious competition to full-time investment counselors. Financial advice as part of an accountant's services remains underdeveloped due mainly to two factors: the reluctance of accounting professionals to market their services, and the complexity of and the cost associated with entering the investment field. However, accountancy firms that fail to hone their skills in financial services may find themselves losing clients. For firms interested in going into the investment business, there are several options that should be considered. One approach to entering the business is the creation of a specialist financial planning division run by highly competent personnel. Another option is the 'umbrella' strategy, which involves establishing a relationship with a third party investment specialist.

Accounting, auditing, & bookkeeping, Management, Services, Accounting firms, Accounting services

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Tough on touts

Article Abstract:

Financial regulators have begun to issue guidelines regulating the provision of advise to investors planning to leave their company pension schemes. The primary objective of the guidelines is to prevent people from losing their pension entitlements due to the bad advice of investment consultants or insurance salesmen. Both the life assurance industry's regulating body (LAUTRO) and the watchdog of independent advisers (FIMBRA) are requiring their respective members to compensate investors who left their company pension schemes due to bad advise. The LAUTRO/FIMBRA guidelines also have provisions regarding the Social Security Act 1990 and the proposed requirement to increase corporate pension schemes annually.

Insurance agents, brokers, & service, Insurance industry

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Baring analysis?

Article Abstract:

The failure of either the investment advisers or their clients to complete the client 'factfind' properly can result in unsuccessful investments. Clients can end up with the wrong investment product if the adviser is not in possession of client information necessary for dispense best advise. Completion of the factfind, in fact, is not not optional but is a mandatory exercise for financial advisers according to the Financial Services Act. In cases when the findfact cannot be completed because the client's refusal to provide certain information, financial advisers will be required by forthcoming regulations to confirm the refusal.

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