The Treasury and Financial Conduct Authority (FCA) are launching consultations into robo-advice and free guidance provision as means to close the advice gap.
The consultations will launch simultaneously on Monday and will form the first step of the wider Financial Advice Market Review (FAMR), which was launched on 3 August and seeks to explore how access to advice can be "radically improved". The advice consultation will focus on the questions: • What kind of financial advice do consumers want? • Are there gaps between the financial advice that consumers want, and the financial advice that they can access and afford? • How can these gaps be closed? • What role could technology, such as "robo-advice", play in improving access to finan...
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