Mark Turner Featured in FT Adviser’s “Guide to Advice and Guidance”

Mark Turner, Managing Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, contributed to FT Adviser’s “Guide to Advice and Guidance.” The online guide identifies key differences between advice and guidance, describes the Financial Conduct Authority’s (FCA) proposed changes for defined benefit pension transfers, and explores how technology can bridge the advice gap.

An extract of Mark’s commentary from the guide is as follows:

“It can be simply down to the client perception as to whether they have received advice. For example, if I went to see an adviser, and showed him paperwork of my pensions and he said, 'Mark, you need to go and invest this somewhere else,', that is advice. The fact that I have not signed any paperwork, or he has not given me a suitability report doesn’t diminish his responsibility that he is giving me advice there. To say, for example, that equities are higher risk instruments and bonds and cash are lower risk, that is factual info. He cannot say, 'Mark you are in equities, you need to go into bonds,', and call that guidance.” 

The interactive guide is worth an indicative 60 minutes of Continued Professional Development (CPD). Access the guide here.

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