FCA called to focus on guidance as it impacts more people

In its response today to the regulator's consultation paper on broadening access to financial advice for mainstream investments (CP22/24), the firm said guidance was a more suitable focus point as it is the "area most likely to improve outcomes for the largest number of people". "At the very least, potential improvements to guidance which facilitate simpler, more intuitive customer journeys should be looked at alongside core advice," said head of retirement policy Tom Selby. With the size of the advice gap and the blurred lines between advice and guidance having long been a cause of c...