FCA advice gap focus turns to income thresholds

Their spotlight has fallen on those with existing savings but not significant wealth, who are less well served by advisers than wealthier consumers who can afford and are more likely to take advice for their 'complex needs'. They said they did not consider there to be a need for advice amongst consumers "when the decisions they need to take are not complex". In a joint consultation out on 12 October the FCA and Treasury asked the industry for input on where the so-called 'advice gap' was most prevalent. The paper is part of their whole of market review now underway, the Financial Advi...