FAMR: Robo-advice hailed as possible advice gap saviour

clock

The government has been urged to prioritise simpler guidance, more widespread advice and better retirement products to help people save for retirement, with robo-advice singled out as a possible solution.

In their response to the Financial Conduct Authority's (FCA) Financial Advice Market Review, which closed on 21 December, the National Employment Savings Trust (NEST), the People's Pension, and the Pensions Management Institute (PMI) said a number of steps should be taken to close the advice gap. These included boosting the range of guidance available to people, simplifying advice and developing products for a broad range of consumers. NEST chief executive Helen Dean said: "There seems to be growing consensus that the advice gap at retirement can best be bridged by a combination of si...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Open letter slamming FCA email policy sent to regulator and government

Open letter slamming FCA email policy sent to regulator and government

'Alarming lack of consultation'

Beth Brearley
clock 20 March 2025 • 2 min read
Crispin Odey hit with £1.8m FCA fine and ban

Crispin Odey hit with £1.8m FCA fine and ban

FCA cites lack of integrity

Sorin Dojan
clock 17 March 2025 • 2 min read
Reeves to overhaul regulatory regime as part of growth drive

Reeves to overhaul regulatory regime as part of growth drive

FCA and CMA face changes

Sorin Dojan
clock 17 March 2025 • 2 min read