A report has called for a new category of advice for the mass market to help later life consumers "put their savings to use" and help drive economic growth.
Research by the International Longevity Centre (ILCUK) called for a type of advice that would sit between non-advised and advised categories and be cheaper to deliver than the current "premium product". It would predominantly serve consumers at a later stage in their life. "Bringing financial advice to the mass market - whether face to face, over the phone or on the internet - is long overdue and we call on the Financial Advice Market Review [FAMR] to facilitate real change in this area," the report said. It called on providers to create products which enable higher and more flexib...
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