Cost-of-living crisis gives advisers 'real chance' to serve younger clients

There are lots of reasons why attempts to narrow the advice gap have fallen short over the years, both real and perceived. Obstacles such as cost, negative views of the advice industry and low awareness of what financial advice can offer as well as supply-related issues, such as the high regulatory costs creating little incentive for advisers to broaden the range of clients they serve, all play a part. As the Financial Conduct Authority (FCA) noted in its 2020 evaluation of the Retail Distribution Review, advice firms "face little competitive pressure to innovate and offer new, more a...