The FCA has outlined questions it will be asking advisory firms in the next step of its probe into charges after it produced a scathing report on the failure by firms to provide correct information earlier this year.

The FCA report, which examined the clarity of charges and fees in the wake of RDR, may lead to two firms being referred to its Enforcement and Financial Crime Division. It found 73% had failed to be clear enough with consumers.
Two firms with "egregious failings" were identified by the regulator, which said too many advisory firms were not being clear with consumers on how much advice costs, the type of service they offer, whether it is restricted and the nature of the restriction and what ongoing services they provide.
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Today, the FCA has published a document outlining the answers it wants from firms about charging and fees.
You can read it HERE.
Steve Gazzard CFP^CM, chief executive of the IFP, said at the time of the report: "Firms need to deliver the right service at the right price and communicating the cost effectively to their clients is essential.
"One of the many criteria we use when assessing Accredited Financial Planning FirmsTM is to check that not only is there a clear and consistent fee strategy in place but also that it is being communicated effectively to clients."