Last week, the FSA (finally) produced guidance for firms considering launching a simplified advice proposition.
It said a 'simplified' model may help meet the investment advice needs of low and middle-income earners. Systems would likely be fully automated, it said, although some may include an option to speak to a qualified (to QCF Level 4) employee to walk them through the process. Simplified advice may be appropriate for consumers who do not need to reduce existing debt; have some disposable income or capital that they wish to invest; and do not want a holistic assessment of their financial situation. Finally, products offered through simplified advice must have simple charging structures...
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