Thanks to the FSA, we now have one new word and another defined to add to the industry dictionary, “guided sales” and “advice”. For those who haven’t yet read the latest interim paper on the Retail Distribution Review, “guided sales” is service with some help and persuasion, probably offered by an institution selling a limited range of products, and “advice” is whole of market and subject to professional standards. Guided sales may or may not be, legally speaking, advice. Clear yet?
Read more at: Of sales and guidance
Simon J Farrant, APFS, Director of Financial Planning, Distribution Technology.
19th May 2008
T: +44 (0) 118 903 5850
F: +44 (0) 118 950 3765
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