Tom Hegarty: Surely any kind of regulated advice is better than none

The FAMR Baseline Report, published by the Financial Conduct Authority (FCA) and HM Treasury in June 2017, not only highlighted that only 3.2 million of the UK adult population had received financial advice in the previous 12 months, but also that 12.8 million did not take advice but might have had a need for it. Interestingly 58% of these people said they would be willing to pay for advice if the costs were ‘reasonable'. This means our sector is in a strange position, where there is a consumer demand and a willingness to pay for the professional services we can provide, yet we are unabl...