The IFA points out that the glut of documents dealing with aspects of the new rules for financial advisers could mean the analysis isn't good. I think they are right - but I wouldn't want them one at a time, it would just be nice to have longer to review them all.
One of our readers thinks that QFE isn't so much about the advice process - it's more about arse covering - and my answer is - maybe. Although I am paid to think about how the implementation of these new rules will affect the market I do not profess to have a perfect crystal ball. It could depend on where QFEs want to position themsevlves, and like most commercial choices there is the ability to do it well or do it badly.
When will all this start? Well, recent information from Securities Commission Staff paper on Regulating and Supervising financial advisers showed that they expected to take registrations for QFE during the fourth quarter this year, and page 3, para numbered 4.
The MED's discussion paper on disclosure have also stirred up plenty of discussion - look at the options for commission disclosure. I would encourage every adviser, every adviser group, dealer group, and interest group to make submissions on this. It's meant to stir up discussion so which should it be? Option 1, 2, or 3.
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