The review into the distinction between advice and guidance has the potential to transform consumer investment and pension choices but regulators must be bold in its implementation, industry commentators have said.
The joint discussion paper on the advice/guidance boundary review from HM Treasury and the Financial Conduct Authority (FCA) closed today (28 February). It garnered responses from across the financial services industry with many backing its desire to close the advice gap. Released in December, the paper set out three proposals as part of the boundary review including a new form of simplified advice and greater emphasis on targeted support for consumers. Association of British Insurers senior policy adviser for long term saving George Ritchie backed the proposals on targeted support a...
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