The Financial Advice Market Review (FAMR) was "big news" and will "fundamentally reform" the advice industry, if the regulator follows through on its recommendations, the chief executive of adviser tech firm Distribution Technology has said.
Up until now FAMR has been scorned by many in the industry who are not providers, who criticised its lack of tangible action and summed it up as a ‘missed opportunity'. But Ben Goss (pictured) said FAMR was anything but a failure to reform the advice space. He lauded the report as being the "last piece in the jigsaw" where technology, consumer need and regulation finally meet and work together to transform the industry. Key measures at the heart of FAMR were a call to set out the boundaries between guidance and advice, and a commitment to clarify how advisers can give ‘streamlined adv...
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