What is this standard about?
BS 8577 sets out a framework for managing financial advisors and effectively supporting the provision of financial advice and planning services.
Who is this standard for?
Why should you use this standard?
Adviser firms and banks are a key channel for distributing financial services and products to consumers, including private and corporate clients. BS 8577 provides a framework that will enable them to meet the increasing levels of professionalism and management practice required of financial advice businesses.
The standard gives clear and up-to-date recommendations and incorporates all aspects that support the provision of advice services, outlining core competencies required from companies, their advisers and planners to ensure a fair, transparent and professional interaction with clients.