FCA urges firms to navigate advice guidance boundary fears

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...