Mass market advice problem 'may not be solved' by FAMR

Advisers say they want to see the industry restructured

Nicola Brittain
clock • 2 min read

Advisers do want to help make financial advice more available to the mass market but are unsure that the Financial Advice Market Review (FAMR) will have much impact, Zurich research has found.

The FAMR, launched in August last year, is a joint Treasury and Financial Conduct Authority (FCA) investigation hoping to close the advice gap created when commission was banned from investment advice by the Retail Distribution Review. Zurich research, released before the official government response to FAMR scheduled to be released before the Budget on 16 March, found many advisers do want to see the industry restructured to better address the advice gap. The provider interviewed 74 advisers and found 23% want a remuneration structure which will help them cater for the mass market; 2...

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

The advice/guidance boundary review: More shades of grey?

The advice/guidance boundary review: More shades of grey?

'The feedback to the FCA is clear: rules are preferred to guidance'

Nina Cherry and Aneta Murdza
clock 09 April 2024 • 4 min read
Unauthorised director to hand investors £1.6m following FCA probe

Unauthorised director to hand investors £1.6m following FCA probe

Amount secured for investors by the FCA following High Court approval

Isabel Baxter
clock 04 April 2024 • 1 min read
Advisers sound positive note on LTA changes but flag need for support

Advisers sound positive note on LTA changes but flag need for support

The LTA will be abolished this week at the end of the tax year

Hope Coumbe
clock 02 April 2024 • 1 min read