ABI calls for fundamental financial advice overhaul as consumers shun fees

The ABI believes changes are needed to shift the advice and guidance boundary and to enable customers to get advice that it is simpler and more affordable. A poll of more than 2,300 people conducted by Yonder for the ABI found that 72% of people do not want to pay for financial advice. It revealed that four times as many people wanted one-off financial advice (46%) instead of the traditional model of ongoing fees (12%). The research also shows that consumers have mixed views on how they want to receive financial guidance, suggesting there needs to be a range of options available to su...