Almost all (93%) advisers say they would not look to offer a stripped back or ‘core advice’ offering that would give people access to a simplified alternative of their services, research shows.
Findings published today (28 February) by AJ Bell show just 7% of advisers plan to offer a core advice service and mostly cite fees and capacity as the main reasons for this. The research was published as part of the firm's response to the Financial Conduct Authority's (FCA) access to advice consultation and also outlines it's key concerns around the proposals for a simplified advice regime. The consultation, CP22/24, asked for industry feedback on proposals such as streamlining the client fact find process so that advice is "more straightforward for both firms and customers". The FCA...
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