Brendan Llewellyn discusses the terminology used in the advice/guidance debate and says the difference between the two is by no means clear...
Harriet Baldwin's tabled amendment on "personal financial guidance "follows the Financial Conduct Authority's (FCA) announcement that it wants to carry out a "holistic review of the boundary between advice and guidance so we can understand how to reduce the regulatory burden while continuing to provide the right level of consumer protection". The background is that advisers tend to operate at the more affluent end of the market whilst some providers, targeting the mass market, want to offer more than generic information or execution only yet are concerned that their services might be int...
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