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...
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