Our Investment Advice Assessment Tool (IAAT) helps personal investment firms understand how we assess the suitability of their investment advice and disclosures to consumers. This excludes retirement income or defined benefit transfer advice.
Investment Advice Assessment Tool (IAAT)
We are publishing the IAAT to help firms understand the methodology we use in our file reviews of investment advice. It may also be of interest to other stakeholders with an interest in Investment advice, including:
- professional indemnity insurance providers who want to better understand how we assess Investment advice
- compliance or legal consultants who want to be better able to support firms responding to our reviews
- trustees and sponsoring employers of defined contribution pension schemes
Using the IAAT
Using the IAAT is subject to the terms of our licensing agreement.
Please read the agreement carefully before accessing or using the IAAT. By accessing the IAAT you confirm you accept the terms of the IAAT Licence Agreement.
We recommend that you use the current IAAT to assess your past advice. For example, if you receive any complaints about your Investment advice or as part of carrying out a past business review. This IAAT sets out the key factors you should consider when checking the suitability of your advice and disclosure and allows firms to understand what we expect.
Our instruction guide helps you understand how to use the IAAT or interpret the results from a file review by us. You can also email us if you have any questions about how to use the IAAT.
Firms can use the updated IAAT to assess the suitability of Investment advice and the adequacy of client disclosure for advice given after 3 January 2018.
