The FCA and the advice gapRSS icon

Written by Kevin Okell on 24 May 2018

Feature first seen in Money Marketing on 24/05/2018

An FCA review this week put robos in the firing line over suitability and disclosure. Support from advisers then poured in, praising the FCA for standing up to robo advice. Yet nowhere on the FCA’s website or in the press was there mention of an advice gap, nor mention of the UK savings gap – now estimated at over £300bn. The regulator is too busy attacking robos to realise that the rules need to be re-written. Robo advice can help the 10 million UK consumers no longer able, or prepared, to pay for traditional advice services. The only problem with that is it would require serious regulatory change from a regulator that cannot see the bigger picture


Enjoy this article?

Why not share it...

Company News

  • The winds of change
    Written by Jon Dean on 18 October 2018

    The traditionally slow-moving pensions industry is evolving at a rapid pace.

  • 'Putting' Charity First
    Written by Altus on 3 October 2018

    Altus Consulting, a Bath financial services company has raised nearly £6,000 for the Children’s ward at the Royal United Hospitals Bath.