Personal Financial Planning: Traffic light guide to regulation
Personal Financial Planning is an area in which Chartered Accountants are able to use their skills and experience to offer a range of services beyond the traditional business arena, advising on issues such as estate planning, insurance and pensions and investments.
Traffic light quick navigation guide to regulation considerations
To help members navigate this sometimes complex regulatory area we have produced this 'Traffic Light' guide to signpost practitioners in the advice they can offer when holding a Practice Certificate, a Designated Professional Body (DPB) Licence or are operating under FCA regulation.
- Accumulation: Pensions
- Accumulation: Portfolio Management
- Accumulation: ISAs, bonds and unit trusts
- De-cumulation: Pensions
- De-cumulation: ISAs, bonds and unit trusts
- Personal Protection - Non-investment insurance contracts (Fee protection insurance, keyman cover, private health insurance, private medical insurance, term policies etc)
- Corporate Finance
- Estate Planning: Pension
- Estate Planning: Term insurance
- Estate Planning: Whole of life insurance/insurance bonds
- Auto enrolment
- Appendix
Accumulation: Pensions
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
Accumulation: Portfolio Management
Not regulated |
|
Regulated but can be done with a DPB licence |
Decisions:
|
Regulated and requires FCA authorisation |
|
Accumulation – ISAs, bonds and unit trusts
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
De-cumulation – Pensions
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
De-cumulation: ISAs, bonds and unit trusts
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
Personal Protection
Non-investment insurance contracts (Fee protection insurance, key man cover, private health insurance, private medical insurance, term policies etc)Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
Corporate Finance
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
Estate Planning: Pension
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
Estate Planning: Term insurance
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
Estate Planning: Whole of life insurance/insurance bonds
Not regulated |
|
Regulated but can be done with a DPB licence |
|
Regulated and requires FCA authorisation |
|
Auto enrolment
Not regulated |
|
Regulated and requires FCA authorisation |
|
Appendix
For further information on Retail Distribution Review (RDR), independent advice, types of products, product provider, restricted advice and adviser charging please see our appendix.