In the week that was THE week (i.e. Consumer Duty day), our biggest news story was findings that advisers hold concerns over the affect the new regulation may have on the advice gap.
It was predominantly directly authorised advisers who said the gap was likely to increase - hardly a surprise when you consider the increased scrutiny on cost benefit analyses. I speak to many advisers who try to take on lower value clients or provide some sort of ‘semi-skim' advice service. Sadly, there is no denying regulation makes it ever more difficult to not merely justify this sort of work, but to be able to afford it at all. Elsewhere, readers jumped on the news this week that 12 St James's Place funds were found to have delivered "insufficient value" as of March this year. Conce...
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