Advice/guidance review 'will not close advice gap for good'

Advisers reveal their doubts about the FCA’s advice/guidance review

Sahar Nazir
clock • 1 min read

The majority (72.4%) of financial advisers have said the advice/guidance review proposals will not close the advice gap for good, according to a recent PA Asks survey.

Just 3.4% said the proposals will permanently close the advice gap, whilst 24.1% said they do not know. One respondent who answered no, said the advice gap "can only be closed by increased automation and more of the public perceiving advice as a benefit". Another said there is "no clear definition as to what constitutes as advice, therefore we have to assume that everything comes under that heading". They added that advisers are "still talking about client agreements which will run forever, and until clients actually take some sort of ownership and interest in finances the situation h...

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