Better access to advice in a rapidly digitalising world

'Adviser tech has moved on in leaps and bounds this decade'

clock • 4 min read

By combining human expertise with automated technology via digital hybrid advice, we can widen access to regulated advice and more effectively address the advice gap, writes Chet Velani

There's been quite a bit of talk in our sector about the advice gap going in the wrong direction. The Lang Cat's most recent report on this topic indicated a decline in consumer investors paying for advice from 11% in 2023 to 9% in 2024. While it may seem like a small change, when you expand that across the population, well over a million fewer people paid for advice. Some advice professionals feel that Consumer Duty has – unintentionally – contributed to widening the gap. The ongoing regulatory responsibilities have increased the cost of providing a compliant service, making some cli...

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