FCA urges firms to navigate advice guidance boundary fears

Firms told to overcome fear of being too close to advice guidance boundary

clock • 2 min read

Firms are being told overcome their reticence to offer support for fear of being too close to the advice/guidance boundary, the Financial Conduct Authority (FCA) has said.

In a speech today (13 March) at the JP Morgan Pensions and Savings Symposium, chief executive Nikhil Rathi said firms will need to "manage risk rather than eliminate" and "overcome their reticence to offer support for fear of being too close to the boundary or due to an overly cautious risk appetite". He said the FCA and HM Treasury want to "empower consumers" with "commercially viable, high-quality models of support", with digitalisation possibly considered as part of this. "Too few people seek financial advice, so we need new mechanisms to ensure consumers have the support they need...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Rise and fall of finfluencers: Shifting the advice landscape

Rise and fall of finfluencers: Shifting the advice landscape

Investors shift back to traditional advice as finfluencers’ popularity falls

Sahar Nazir
clock 24 May 2024 • 7 min read
PA Working Lunches: Register today to hear from Schroders

PA Working Lunches: Register today to hear from Schroders

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 24 May 2024 • 1 min read
Feel Good Friday: Financial education for the next generation

Feel Good Friday: Financial education for the next generation

RedSTART and The Money Charity on the importance of education

Professional Adviser
clock 24 May 2024 • 1 min read