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

FCA to launch multi-firm review looking at bereavement processes

FCA to launch multi-firm review looking at bereavement processes

Follows customer vulnerability work

Sophia Panayi
clock 07 May 2026 • 2 min read
FCA wholesale markets priorities: What they mean across UK financial services

FCA wholesale markets priorities: What they mean across UK financial services

Higher expectations on how firms evidence governance, risk and compliance

Chris Davies
clock 06 May 2026 • 4 min read
Regulator launches review of poor claims management practices

Regulator launches review of poor claims management practices

Investigation into CMCs and law firms

Jenna Brown
clock 06 May 2026 • 3 min read