Ruth Handcock: A multi-solution approach to close the advice gap

All options on the table

clock • 4 min read

Ruth Handcock explains why the industry will need to use all available solutions, including new services like financial coaching, to stop the advice gap from becoming a chasm

Few issues are talked about more in the advice industry than the ‘advice gap'. I for one am glad that's the case. We know that a majority of people in the UK regularly worry about money and find it hard to know where to turn to for help. That worry can become stress and start to impact our mental wellbeing, at a time when most people have enough to deal with. In our Bridging the Gap report published last year, we highlighted how more than 60% of financial advisers plan to retire by 2030, and many firms are struggling to attract new talent to replace them. This could lead to an even large...

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 Your profession

FCA urged to prioritise a 'common sense' approach

FCA urged to prioritise a 'common sense' approach

Last week’s PA Asks poll highlights industry’s thoughts on the FCA

Sahar Nazir
clock 25 March 2024 • 2 min read
Advisers overlooking younger clients over asset value bias

Advisers overlooking younger clients over asset value bias

'Young people need to have access to trusted advice'

Sahar Nazir
clock 22 March 2024 • 1 min read
Financial advice crucial as near-term challenges remain

Financial advice crucial as near-term challenges remain

'A good IFA has rarely been more valuable'

Ahmed Bawa
clock 22 March 2024 • 4 min read