Progress over perfection: Targeted support has huge upsides

Targeted support is not perfect but 'may be good enough'

clock • 4 min read

Let’s understand consumers and try to provide financial advice in a way that works for them, not the regulator, writes Chris McCullam

The Financial Conduct Authority's Advice Guidance Boundary Review discussion paper sets the grounds for a potentially seismic shift in the level and nature of financial support available to the mass market. The last big shift was the Retail Distribution Review (RDR), which significantly reduced the appetite of financial services firms to provide these services to the mass market. The result, mainly for savers with smaller pots to invest, has been characterised as an ‘advice gap' but has really become a savings and investments crisis – one that impacts millions. While RDR undeniably ra...

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

Manchester City charges: Treasury Committee chair raises tax questions with HMRC

Manchester City charges: Treasury Committee chair raises tax questions with HMRC

As Tax Policy Associates points to potential £12m in unpaid tax

Jen Frost
clock 02 October 2026 • 2 min read
'Waiting for certainty can itself create the breach': When must a firm notify the FCA?

'Waiting for certainty can itself create the breach': When must a firm notify the FCA?

'A voicemail is unlikely to suffice'

Gareth Fatchett
clock 02 October 2026 • 5 min read
FCA opens authorisation gateway for crypto firms

FCA opens authorisation gateway for crypto firms

Ahead of supervisory framework coming into force

clock 01 October 2026 • 2 min read