Goodbye guidance: A new shape for advice and client support

'At just 62 pages it's a mere novella compared to most of the watchdog's output'

clock • 8 min read

Brendan Llewellyn looks at the regulator's advice/guidance boundary review, the concept of targeted support and the latest iteration of simplified advice...

The Financial Conduct Authority's (FCA) latest paper is about the advice/guidance boundary and seeks to reduce the advice gap, and I suppose the guidance gap. It is to be commended on its brevity - at just 62 pages it's a mere novella compared to most of the watchdog's output. But what problem are we trying to address here? We know that advice - a clear recommendation based on your personal circumstances is a good thing that many find useful. We also know that most people don't receive advice because: They don't think they need it  They don't know where to get it They suspect or...

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 Regulation

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

'Data is not a by-product of systems; it is a core governance asset'

Chris Davies
clock 27 March 2026 • 6 min read
FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

Regulator hits back at Complaints Commissioner’s final report

Jenna Brown
clock 26 March 2026 • 3 min read
Advisers warned against 'cost-saving' exercises as FCA proposes ditching annual suitability requirement

Advisers warned against 'cost-saving' exercises as FCA proposes ditching annual suitability requirement

Changes offer an opportunity for more ‘meaningful’ advice

Sophia Panayi
clock 26 March 2026 • 4 min read