The Financial Conduct Authority (FCA) has said there is significant clustering around certain service types and price points that it is having an impact on the amount of people who seek advice.
In its evaluation of the impact of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) published on Thursday (3 December), the FCA examined why consumers might not seek to receive services - whether advised or non-advised - that might help them with their investment options. While there has been some innovation in the advice market, the regulator said, it still has not been able to attract a large number of consumers. In terms of price clustering, the watchdog admitted it can reflect a healthy market where competition drives advice services to specific p...
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