FSA confident simplified advice remains answer to post-RDR gap

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The Financial Services Authority (FSA) remains confident there will be a viable simplified advice market post-retail distribution review (RDR) implementation and has said it is already seeing well developed plans.

With many commentators predicting the advice gap will grow from next year, both the FSA and Financial Services Consumer Panel have pointed to simplified advice as a way of catering to the mid-to-mass market. However, experts within the industry have voiced concerns that the same regulatory thresholds are being applied to simplified advice, making it too risky. Nevertheless, Martin Wheatley, managing director of the FSA, has insisted there are already "very developed plans" from some providers. Speaking at the regulator's annual public meeting on Tuesday, he said: "My expectation is...

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