Wheatley: FCA to 'fast-track' advice model innovation

The regulator realises that firms need more clarity around the borders of advice and guidance and endeavors to provide clearer guidance on how the FCA will approach this space, including liability issues, in a paper out next month, he said. It will also ask the industry "whether more sweeping change is required" for it to be able to deliver simplified advice. Wheatley (pictured) said innovation in the advice space is needed to capture the middle layer of consumers that "need to save but are not getting the range of services". He pledged the FCA will put greater importance on listen...