Santander closes advice service to new business

Santander will continue to provide advice to existing customers with maturing investments, but has decided for now not to pursue new business until it "can find the right model for us, for our customers, and for the regulator". The bank said it has delayed its plans to offer face-to-face advice to a broad base of customers because of the regulatory expectations post-RDR, the further investment that would be required and the length of time needed to complete that investment. Santander will continue to review how it can offer advice to its customers in the future and provide access to i...