Inconsistent advice market data has been uncovered by the New Talent Alliance, which runs counter to the regulator’s vision of a “vibrant, competitive and sustainable advice market”.
The body, part of the wider Consumer Duty Alliance, said its analysis, published today (10 February), showed there had been "long-standing inconsistencies in market data used to assess the UK retail investment advice sector". It called for clarity on the data sets used when figures such as total adviser numbers and the age range of advisers were cited. New Talent Alliance chair and Simplybiz CEO Tom Hegarty led the analysis. It compared two "authoritative but fundamentally different" Financial Conduct Authority (FCA) data sources: Intermediary market data (IMD), based on Ret...
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