Goodbye guidance: A new shape for advice and client support

'At just 62 pages it's a mere novella compared to most of the watchdog's output'

clock • 8 min read

Brendan Llewellyn looks at the regulator's advice/guidance boundary review, the concept of targeted support and the latest iteration of simplified advice...

The Financial Conduct Authority's (FCA) latest paper is about the advice/guidance boundary and seeks to reduce the advice gap, and I suppose the guidance gap. It is to be commended on its brevity - at just 62 pages it's a mere novella compared to most of the watchdog's output. But what problem are we trying to address here? We know that advice - a clear recommendation based on your personal circumstances is a good thing that many find useful. We also know that most people don't receive advice because: They don't think they need it  They don't know where to get it They suspect or...

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

FCA acknowledges investment trust platform clash and proposes changes in call for wider CCI input

FCA acknowledges investment trust platform clash and proposes changes in call for wider CCI input

Final rules outlined in 2025

Eve Maddock-Jones
clock 19 December 2024 • 6 min read
WealthTek boss John Dance charged with £64m fraud and money laundering

WealthTek boss John Dance charged with £64m fraud and money laundering

‘One of the most serious and largest frauds’ ever investigated by FCA

Jenna Brown
clock 19 December 2024 • 2 min read
Number of financial firms failed by FSCS increases in October and November

Number of financial firms failed by FSCS increases in October and November

Including Charterhouse and Advice & Wealth Management Solutions

Isabel Baxter
clock 18 December 2024 • 2 min read