The pandemic accelerated change in advice businesses with increased agility and efficiencies. The regulator was also in a more flexible mood. Here Marilyn Cole asks whether now could be the perfect time for a simple advice channel to finally emerge?
One of the more unexpected outcomes of the current crisis could be the creation of a simpler and lower cost advice channel. Of course, there will be some cynicism about this. Anyone with experience in financial services will know that every few years, the idea of a new advice channel is proposed. It might be debated in a Financial Conduct Authority (FCA) discussion or consultation paper, after which the concept enjoys a moment in the sun, and then is put firmly back on the shelf again. We know the proposal keeps being revived because there is an unmet need for advice, guidance and ...
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