'Advice gap' won't close without innovation - FSCP

A report from the Financial Services Consumer Panel said existing business models within the financial advice market mean the middle ground is being sidelined which has resulted in the 'advice gap'. This is the result of increasing emphasis on more focused advice alongside other basic non-assisted advice, which offers very cursory analysis to clients. In addiition, advisory firms are continuing to report reductions - actual and planned - in adviser numbers as well as re-segmentation of their client base. Both factors mean that more clients are moving from the middle ground. This mi...