A report by Fidelity and the Cass Business School suggests as many as 43 million Britons could fall into what they call a "guidance gap" as a result of the Retail Distribution Review (RDR).
The gap comprises those people that will be without professional financial advice in the post-RDR world and that will not have the confidence to make their own decisions in the absence of professional advice, but who will be in need of financial guidance in order to maintain the health of their personal finances. The report estimates the total investible wealth of this group is approximately £440bn. It also said that it is "very possible" that more people could fall into the guidance gap over time. "The Financial Services Authority's (FSA) goal may have been to improve the average ...
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