PFS calls on financial planners to challenge FCA's advice perceptions

‘Articulate the advantages of ongoing advice’

Julia Bahr
clock • 2 min read

The Personal Finance Society (PFS) has started collecting evidence of the value of advice to challenge the Financial Conduct Authority’s (FCA’s) views of the sector.

The professional body asked financial planners to share examples of where they have provided value to clients.  According to the regulator's consumer investment data review, an increase in transactional advice rather than ongoing advice is the best way to ensure investors take risks with part of their wealth to improve their financial resilience.  The FCA's conclusion is based on consumer research suggesting many were unaware how much they were paying for advice. The value of advice was assessed by looking at the performance of consumers' investments, which is distinct from the charge...

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

Nexus IFA director Kerry Nelson charged over £2m alleged fraud

Nexus IFA director Kerry Nelson charged over £2m alleged fraud

FCA also starts criminal proceedings against firm's business operations manager

Isabel Baxter
clock 28 February 2025 • 1 min read
Consumer Duty champions officially axed

Consumer Duty champions officially axed

No longer a requirement from today

Jen Frost
clock 27 February 2025 • 2 min read
FCA CEO: Tackling growth 'requires bold strokes – from all of us'

FCA CEO: Tackling growth 'requires bold strokes – from all of us'

Regulator looks to 'end duplication'

Linus Uhlig
clock 27 February 2025 • 2 min read