ABI proposes 'streamlined' financial advice

clock

A 'streamlined' advice service sitting in between full advice and the Government's much simpler Money Guidance scheme is proposed today by the ABI.

It says the distribution of financial services needs to be reviewed to allow consumers who do not require full advice to access "something more" than the basic level offered throuh Money Guidance, which is currently being piloted. In its Savings Manifesto, launched today, the ABI says it is currently developing a streamlined advice service to plug this gap. According to the ABI, savings products delivered through this service would be designed to meet simple consumer needs, "with the benefits, limitations and charges of the products easily explainable to the consumer". It adds th...

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 Your profession

PA360: Advice firms 'brush over' data integrity fundamentals

PA360: Advice firms 'brush over' data integrity fundamentals

‘Your business and your people are under attack constantly’

Isabel Baxter
clock 25 April 2024 • 1 min read
PA360: The need for a financial plan 'has never been higher'

PA360: The need for a financial plan 'has never been higher'

‘It needs to be done in a different and innovative way’

Isabel Baxter
clock 25 April 2024 • 2 min read
PA360: Potential pitfalls for advisers amid push for AI integration

PA360: Potential pitfalls for advisers amid push for AI integration

Advisers must be not be ‘deceived into believing AI can solve all problems’

Sahar Nazir
clock 25 April 2024 • 1 min read