Generic financial advice 'requires further funding'

The committee believes a key part of promoting financial inclusion lies in ensuring consumers have access to “appropriate” financial advice. The report states: “It is clear that improving access to financial advice would have benefits for individuals, the government and the financial services industry. All too often in pronouncements from government and regulators, consumers are told to seek advice, but with little consideration as to where they should turn.” The committee says the implementation of a National Pensions Savings Scheme (NPSS) and moves to make individuals more responsible...