Need for an advice safety net growing

As more advisory firms move up market, the Government will need to fund a financial advice service for the less well off. That is the conclusion drawn by Jane Vass of the Consumer Policy Institute, whose report, 'Where next for financial advice,' was published last week. In the report, which was sponsored by the Life Assurance Association (LIA), which itself is arguing against the further weakening of polarisation, Vass acknowledged there was 'decreasing access to advice' for some sections of the public. She concluded mass affluents, those with between £50,000 and £100,000 to invest, ...