Why Lloyds's advice u-turn is concerning

Perhaps I will say nothing here which has not been said before, but I am, from a wealth manager’s perspective, truly concerned at the news to emerge from Lloyds Banking Group that it is to axe its mass-market investment advice service from November. Evidently, only those consumers with £100,000 or more to invest will be offered face-to-face advice through the Group's private banking services. As an independent I don't exactly champion the kind of advice offered by the high street banks, but I do believe in the provision of a national advice structure capable of delivering financial ad...