FCA 'still struggling' to gauge true effects of advice gap

Wheatley (pictured) said that the advice gap was the "single biggest difficulty" in the market that evolved post-Retail Distribution Review (RDR). Speaking at a roundtable discussion on Monday, he said the regulator found it very hard to determine how exactly the gap was affecting people because getting the empirical data was difficult. The FCA was essentially trying to measure "something consumers are not doing", he explained. Wheatley said the regulator could not yet determine whether measures introduced by the RDR were effectively preventing people from saving or to what extent ...