The Financial Services Skills Council (Fssc) has published national occupational standards for providers of generic financial advice, as part of the Fsa's national strategy for financial capability.
The standards define the boundaries for generic financial advice as a standalone service and establish a set of core skills and competences for those who engage in this activity, whether in the private or not for profit sectors. The Fssc describes generic financial advice as covering everything from giving very general information, such as how to open a bank account, to advice on how someone could allocate the distribution of their investments. It differs from retail financial advice as no specific product recommendations are made and consumers are not being sold products and services. ...
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