Compliance Monitor
Equity release firms told to check their processes, as FCA finds tick-box approach
By Neasa MacErlean
Firms advising on equity release must do more to ensure they always give appropriate advice — following an FCA review that
found a “largely” form-filling approach to fact finding; inadequate evidence in customer files; 20-page suitability letters
and advisers acting in an ‘order taking’, rather than discursive, role with clients.