Generic advisers must be assessable - CII

Responding to the Treasury’s financial capability consultation, the CII stresses it is keen to support the concept of generic advice so has “expressed an interest” in designing, building and operating an online competency assessment tool to help maintain the quality of prospective generic advisers. The CII states in its response “it would be wrong” to expose consumers accessing generic advice to the risk of poorer advice than those accessing regulated advice as those most likely to receive generic advice are more likely to be in the lower and mid income brackets, and could therefore be hit...