Speculation has abounded that simplified advice, part of the Financial Conduct Authority’s (FCA) and HM Treasury’s joint Advice Guidance Boundary Review, is set to be shelved, but FCA head of department for advisers, wealth and pensions Nick Hulme has insisted that it remains “one of the three limbs”.
"We are obviously aware that there has been more enthusiasm and greater feedback with targeted support, and… around clarifying the boundary, but simplified advice is just another part – another stepping stone – on that continuum of support where you want to try and get more people engaged with financial advice of whatever form," Hulme told PA. The Advice Guidance Boundary Review sets out three avenues for closing the advice gap: boundary clarification, targeted support and simplified advice. Under a simplified advice regime, firms would be able to offer a personalised recommendation c...
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