Why advice gap progress may be on the horizon

The advice gap has been a perennial problem both for the country and for the advice profession. Getting quality financial advice to more people – particularly earlier in life – has the potential to be transformative for their outcomes. Meanwhile, firms have their own advice gaps to address, with the average firm today serving more clients in their 80s and 90s than in their 40s. In recent years, there has been clear, political and regulatory will to address the issue. However, the increase in time and cost to serve that followed Consumer Duty implementation initially led to movement in...