Financial capability strategy to include 'advice on advisers'

In its long-term approach to financial capability, announced today by Ed Balls MP, Economic Secretary to the Treasury, the government says its policy is to ensure every person, including those on the lowest incomes can get quick, easy and simple access to good quality financial advice. But the 68-page consultation document, which closes on 13 April, points out the “advice market has arguably not kept pace with product development and in particular there is evidence of an “advice gap”, especially for those on low or modest incomes”. It warns “there is nothing to suggest that the market...