Squaring the circle: How big is the reverse advice gap?

FCA must not throw the baby out with the bathwater

clock • 5 min read

Just when you thought financial services couldn't possibly have any more 'gaps' Justin Cash has found one - this time the reverse advice gap. Here he explains all...

For years, the industry has bemoaned the lack of people seeking out regulated advice. There is a fundamental mismatch between the number of people who could benefit from advice, and the number actually receiving it. That number could be as high at 39 million UK adults, which is a shocking policy failure if it's anywhere near that many. A variety of explanations for the ‘advice gap' have been offered, from the burden of regulation making planning uneconomical, to a lack of understanding of the value of planning or not knowing it even exists. But rarely is the flip side of this coin ...

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

How considering vegetable peelers can inform your product design

How considering vegetable peelers can inform your product design

FCA released two reports to mark the third birthday of Consumer Duty

Alison Gay
clock 31 July 2026 • 4 min read
Andy Wealthall: Is there still a place for annual suitability reviews?

Andy Wealthall: Is there still a place for annual suitability reviews?

'We shouldn't solve one problem by creating another'

Andy Wealthall
clock 30 July 2026 • 4 min read
Why the smartest advisory firms are getting ahead of the FCA on non-financial misconduct

Why the smartest advisory firms are getting ahead of the FCA on non-financial misconduct

'September is a starting point, not the finish line'

Gemma McCall
clock 29 July 2026 • 5 min read