TISA welcomes government consultation on financial advice definition

While some financial advisers have questioned the effectiveness of the proposed changes to the definition and even argued they could attract more scammers to the sector, the association suggested the measures contained in the consultation document, published earlier this week, could "empower and motivate financial services". TISA said it had been working closely with its members as part of its response to the Financial Advice Market Review (FAMR), with one of its key recommendations being "to clearly define the distinction between advice and guidance to address the lack of understanding ...