There is undoubtedly an advice gap of sorts in the UK, Tony Bullock writes…But how does the Financial Conduct Authority (FCA) plan to tackle it?
The regulator's recent policy paper on the advice guidance boundary review gives us more clarity on where it is going with plans and the challenges the FCA is trying to address. The basic premise is that most people are happy to make simple financial choices, and would benefit from some support for the more complex decisions. Yet this ‘complex' bar is set pretty low - the FCA considers investing in a stocks and shares ISA would fall into this category. And access to full holistic advice is limited - a recent FCA survey for example found that 40% of firms have formal pot size threshol...
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