FCA working group recommends 'five financial rules of thumb'

Follows focus group and consumer research

Tom Ellis
FCA working group recommends 'five financial rules of thumb'

The regulator's Financial Advice Working Group (FAWG) has proposed five financial 'rules of thumb' and 'nudges' designed to help people meet common personal finance needs.

Based on the common phrases 'five fruit and veg a day' and 'a rule of thumb', the proposed 'Financial Five' is a result of one of the Financial Advice Market Review (FAMR) recommendations, which su...

To continue reading this article...

Join Professional Adviser


  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Regulation

The regulator noted there was broad agreement across the industry regarding the potential harms caused by the growing role of ESG data and rating providers.

FCA sees 'clear rationale' for regulatory oversight of ESG data providers

Mixed feedback on UK green bond standard

James Baxter-Derrington
clock 29 June 2022 • 1 min read
Sub-committee to intervene at consultation paper stage.

Treasury sub-committee launched to scrutinise financial regulators post-Brexit

Additional Financial Services Scrutiny Unit

clock 27 June 2022 • 2 min read
Irish advice firm under investigation by FSCS

Irish advice firm under investigation by FSCS

25 cases upheld by FOS

clock 24 June 2022 • 3 min read