Simon Binney: So where are we with the advice gap?

Awaiting FAMR’s review

clock • 6 min read

2019 is the year the original recommendations of the Financial Advice Market Review (FAMR) is set to be reviewed in full by the Financial Conduct Authority (FCA), writes Simon Binney.

While we wait for the results of the assessment, it is worth reflecting on the progress that has been made since the advice gap was called out in the final FAMR report in 2016, which noted a gap that was "particularly significant in relation to pensions and savings". The recommendations outlined in the FAMR report were aimed at providing affordable advice to consumers, increasing the accessibility of advice, and addressing industry concerns relating to future liabilities and redress, without watering down levels of consumer protection. Since 2016, the FCA and HM Treasury have implemen...

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 Technology

AI will 'help solve regulatory problems' for advice industry

AI will 'help solve regulatory problems' for advice industry

AI can help the industry explain the value of advice to the FCA

Sahar Nazir
clock 14 May 2024 • 1 min read
'Huge amount' of AI hyperbole among industry

'Huge amount' of AI hyperbole among industry

‘Everyone is talking about AI, but no one really knows everything yet’

Isabel Baxter
clock 09 May 2024 • 1 min read
Pension dashboards demand systems built to scale up rapidly

Pension dashboards demand systems built to scale up rapidly

7.5 million people might log in within the first few days alone

Paul Muir
clock 08 May 2024 • 7 min read