Andy Wealthall looks at the regulator's targeted support plans and says he has reservations about its ability to close the advice gap...
In a move to close the advice gap, the Financial Conduct Authority (FCA) is consulting on proposals for targeted support in pensions and retail investments. At Lifetime Financial Management (Lifetime FM), it's our view that these plans would only be a sticking plaster solution to a much deeper, systemic problem. On 30 June, the FCA issued announcement CP25/17, a formal consultation paper outlining the regulator's plans for targeted support, a new form of regulated service. This initiative aims to tackle the UK's widening advice gap by allowing financial services firms to offer simplified...
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