Consumer Duty to 'drive product innovation' and help close advice gap

This is according to LiveMore's latest white paper released today (12 July) titled  ‘Consumer Duty: why later life lending is about to change forever'. The white paper looks at what Consumer Duty rules mean in practice, and what it can do for later life lending. The mortgage lender said that Consumer Duty may help with narrowing the advice gap. It said that 30 million people in the UK cannot access the financial advice they need.  It also noted only one-in-five 50-64-year-olds have had access to a financial adviser when accessing their pension. It comes after recent research published...