Monday, April 24, 2017

"To strengthen pension, ISA selling financial company sales director."

[Korea Selected financial newspaper reporters - came the claim that the retirement pension, private wealth management account (ISA) discretionary accounts, variable life insurance and financial firms strengthen supervision selling account-type products that manage and operate the assets for the long term needs.

Lim Hyeongjun Korea Institute of Finance (KIF) Capital Markets laboratory researcher, account type product management, account-type products management company directors and consumers governed reinforced the need for a 'report companies have yet incorporated into the high-risk, high-cost products, or its · subsidiary products there are soholhan side in financial planning, asset allocation for customer service, he said.

Recent financial companies can reap the benefits of long-term inclusion (lock-in) customers to nopeunde interested in the asset management business to make money in customer accounts other than their own account, in particular, account-type products are tax benefits requirements, etc. Iran is actively analyzing the sales.

Lim Hyeongjun researcher "account-type products, the management company when you gotta discretion granted operating subsidiary funds, equity-linked securities (ELS) and sought incorporation excessive deposits, or sales commissions and maintenance are usually the interests of customers, such as incorporating a high-risk products possessing more experience in operating practices that benefit high priority to financial institutions, and the jipeot.

The obligation to present in the country should act so that the best interests (best interest) to customers in retirement, variable life insurance, ISA discretionary wrap accounts, pension funds, savings account-type products, such as managing financial institutions are not charged.

Regulators are also described the financial companies came to sell individual items, incorporating this approach in the 'investment suitability' points of view a right for the customer.

Lim Hyeongjun researcher, Korea has the United States, the European Union (EU), Australia, Canada, etc. rookie duties refer the case to the account-type products management company (fiduciary duty) to impose and investment decisions recorded whether the customer's best interests compliance when We need to be induced to leave the post oversight effectiveness and strengthen consumer regulations "and proposed.

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