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...

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