Breakdown: The five investment distribution models (as the FCA sees it)

The Financial Conduct Authority (FCA) has set out what it sees as the full range of distribution models for retail investment products. It follows the launch of a guidance consultation which aims to clarify the boundaries between the models with the wider goal of promoting innovation and competition. According to the regulator, stakeholders understand the differences between the two "extremes" in distribution - execution-only and full advice - but not the bit in the middle. "We want firms to understand there are options that sit inbetween...