Where now for simplified advice?

The Financial Services Authority (FSA) is struggling to get providers on board with simplified advice, an industry expert has warned, leaving the mass market advice problem potentially unresolved. The regulator published a guidance consultation last year outlining its definition of simplified advice and the various versions which providers and distributors could opt for (see box below). However, Malcolm Kerr, executive director at Ernst & Young, said the FSA was finding it difficult to get providers and distributors interested. He said: “It hoped that the industry would come up wit...