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Infographic – Advice Guidance Boundary Review: Solving the Investments Crisis

Infographic – Advice Guidance Boundary Review: Solving the Investments Crisis

In this infographic, we capture the key takeaways from the Altus Consulting Advice Guidance Boundary Review: Solving the Investments Crisis Conference.

At our half day conference held in Canary Wharf, London on the 21st May 2024 we explored the Financial Conduct Authority’s (FCA) Advice Guidance Boundary Review (AGBR), particularly its proposal for targeted support. Robert Holford, Head of Research & Regulation presented findings from our primary research on the industry’s take on the regulator’s discussion paper. Senior industry leaders from across the sector came together to debate the scope of the review and the technological trends resulting in lively panel discussions facilitated by Sam Turner, Wealth Director and Sarah Bateman, Head of Data and AI.

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Altus Consulting Advice Guidance Boundary Review: Solving the Investments Crisis Conference visualised by wearelim.com
  • The Financial Conduct Authority proposals:
    • Clarification of the boundary between advice and guidance.
    • Targeted support interventions based on limited information of the consumer circumstances.
    • Simplified advice, a limited, one-off form of advice, focused on a specific need.
  • Altus Consulting, believe the targeted support proposals outlined in the Advice Guidance Boundary Review Discussion Paper mark the start of regenerating mass-market investment support.
  • New exclusive whitepaper The land that RDR forgot: regenerating mass-market investment advice available to download.
  • Key insights
    • Altus primary research shows targeted support is seen as a game-changer, with over 65% of people saying they would consider offering targeted support services compared with 33% for simplified advice.
    • This is no longer the market shaped by the Retail Distribution Review (RDR). This is a market shaped by the Consumer Duty.
    • Mass-market financial decision-making support services sorely missing from UK Financial Services landscape.
  • Panel discussion: The Land That RDR Forgot – Did the RDR kill mass market investing and to what extent do targeted support proposals represent an opportunity to refine the market?
    • Importance of making advice human, holistic, and affordable.
    • Targeted support will move guidance from passive to proactive interventions
    • Technology is an enabler that will allow providers to do more with data (if built properly)
  • Designing for Success: Consumer engagement remains the core challenge across financial services – how do we build for consumer centricity?
    • Industry needs to meet consumers where they are, it’s about meeting their needs not explaining our definitions
    • Recognising that the investment crisis is more about human needs than just financial aspects.
    • Need for personal, human-in-the-loop approaches to advice.
  • Panel discussion: Right Here, Right Now – Technology to support mass market advice and guidance already exists, why then do we see limited adoption and what role does technology have in improving engagement? 
    • Technology can help delivery more effective mass personalisation
    • Tools already exist but need repurposing for better integration and effectiveness.
    • New technologies like Generative AI will not replace advisors but rather give them superpowers

Download the infographic and read the whitepaper for more detailed insights.

You can download the PDF below.

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Keep exploring...

Targeted Support is the Best Proposal to Bridge Advice Gap, Says Report
Altus Consulting releases exclusive whitepaper The land that RDR forgot: regenerating mass-market investment advice
The land that RDR forgot: Regenerating mass-market investment advice
Altus Consulting Response to the Advice Guidance Boundary Review Discussion Paper  

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