Rory Percival Profile picture
Rory Percival Training and Consultancy Ltd. Conference speaking, training and guides. Anything to do with financial advice and its regulation
Nov 2, 2022 4 tweets 1 min read
Consumer Duty seems to be a big theme at the #PFSFestival

My take on the history of the Consumer Duty in three short tweets ... 2011 FSA - Responsibilities of Product Providers and Distributors (RPPD). Well hidden guidance on TCF which said you should design your advice service to generate good outcomes for your client bank
Jan 14, 2021 6 tweets 2 min read
Thread on suitability reports. COBS 9.2 (suitability rule) talks about the need to establish client's financial circumstances, objectives, risk profile etc and then recommend an investment that is suitable to all of these. Then COBS 9.4 says you must explain why suitable in SR 1/ A particular investment can be suitable for the client's risk profile but is almost never directly suitable for a client's wider personal circumstances and objectives. How can, say, an XYZ Ltd SIPP be directly suitable for a client wanting to retire early on £Xk pa? /2