Closing the advice gap has been a priority for the regulator for some time and this week it took, in its own words, an “important step change” towards that goal.
A Financial Conduct Authority (FCA) and HM Treasury joint policy paper set out three ways to improve the situation for consumers, including a new form of simplified advice. The regulator said the latest iteration of simplified advice would make it easier for firms to provide affordable personal recommendations to those with simpler needs and smaller sums to invest. FCA executive director of markets and international Sarah Pritchard said the regulator wanted to "open the door" for more people to get the "right advice or support to manage their money at the time they need it and at a c...
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