Anthony Morrow: The advice industry must do more to innovate

The FCA has finally published its report into its evaluation of the impact of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR), more than 18 months after the initial call for input. The basic findings won't come as much of a surprise to anyone in the industry - not enough people are seeking financial advice and too many are holding too much cash. According to the FCA's consumer research, half (54%) of those who have £10,000 or more of investible assets, which equates to about 8.4 million people, have not received any formal support to help them make inve...