The Financial Conduct Authority (FCA) is considering ways it can make it clearer to consumers when they are buying products on a non-advised basis online, as more web-based advice solutions are developed.
The regulator has told the Treasury Select Committee (TSC) it may revise its guidance so consumers buying via the web know when they have been advised and when they haven't. Details of the FCA's concerns are outlined in a TSC paper, published on Friday, which, among other things, examines a promise made at Budget 2014 that all retirees will have access to face-to-face 'guidance' on their income options. Though that referred to unregulated guidance, it has been put forward by many organisations that the development of online advised propositions will help to meet an anticipated increas...
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