Are financial advisers too protective of the word ‘advice'? There is a gap - no, a chasm - between what the public understands as advice (‘Wotsits are way nicer than Discos') and what you and I know it means in the world of financial services.
For example, were I to one day set up FCA-regulated Scott Sinclair Advisory Services (which'll never happen), what would differentiate me from The Pensions Advisory Service? I would know, as would you - TPAS too - but what about he who matters most: retiree James Llewellin, 53, from West Wickham, who is looking for financial advice on his retirement options? (OK, so our friend Mr Llewellin would likely know soon enough if he phoned through to TPAS, but we have a problem here.) I asked Professional Adviser readers what they thought. For Jason Hollands, whose employer Tilney Bestinve...
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