
5 Ways New U.K. Regulations Can Affect Your Business
Here are 5 key components of the new regulations that U.K advisors will have to adopt come December.
Source: Deena Katz, columnist, Financial Planning Magazine

1. Ban of Commissions
For clients, this means a step closer towards receiving unbiased advice.
For advisors, it will mean segmenting your client base and pruning it for unprofitable relationships.

2. Independent or Not?
Independent: Advisors must have access to any and all financial products or solutions that would be suitable for their client base.
Restricted: Services that offer access only to a limited range of products that must be clarified.
Simplified: Services that include low-complexity products and very limited advice for people with simple needs.
This pushes and helps advisors to develop an optimum client description while focusing marketing efforts on those prospects.

3. Tax for Advice-only Service

4. Higher Education

5. Increased Capital Requirement

6. The Verdict?
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