PIMFA and Aegon warn FCA 'core' advice proposals need work

FCA consultation on the issue closed this week

clock • 3 min read

PIMFA has warned the Financial Conduct Authority’s (FCA) proposals on core investment advice risk being undermined by “unnecessary restrictions.”

The trade association for the wealth management and financial advice industry said while it welcomes and broadly supports the FCA consultation paper on broadening access to investment through the provision of advice, it had concerns. The FCA consultation, Broadening access to financial advice for mainstream products, closed yesterday (1 March). The issues centre on the commercial viability of the proposals as currently envisaged, PIMFA said. Placing a lifetime limit on the amount an individual could contribute is one problem it has identified. Also, the proposed restriction on tran...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA complaints: Pensions and investment gripes on the rise

FCA complaints: Pensions and investment gripes on the rise

Total number of financial services complaints hits 1.85 million

Jenna Brown
clock 23 October 2025 • 1 min read
Updated: Failed financial advice firms tracker

Updated: Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 21 October 2025 • 1 min read
Regulatory pressure continues to 'weigh' on advisers

Regulatory pressure continues to 'weigh' on advisers

Consumer Duty and FCA reporting cited as biggest regulatory demands

Jenna Brown
clock 20 October 2025 • 1 min read