FCA lays out plan to tackle the pension advice gap
Firms would be able to provide a bespoke suggestion to specific groups of consumers
Advice Gap
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Schroders and Benchmark launch adviser guides on great wealth transfer and female financial planning
The firm found 63% of advisers concerned about wealth transfer
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Clients ‘very concerned’ about their adviser retiring soon
Many advisers are expected to retire over the coming five years
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‘Advice gap’ grows in 2024 with 12.4m people falling in
The headline number includes 9.2 million ‘low confidence non-advised’ investors
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Eye-watering inflation will widen advice gap
Advisers have identified it as the ‘single biggest challenge’ they currently face
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Financial guidance reform to spur ‘cultural change’ in advice sector
UK parliamentary committee amendment will provide clarity on advice-guidance blurred lines
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Should financial advisers lower their fees?
29% of UK adults said they would not go to an IFA because it was too expensive
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Just 7% of Brits paid for financial advice in past two years
‘Memories of a sales and commission driven culture at some firms’ has ‘damaged people’s view’ of industry
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60% of UK advisers turned away clients in past year
While Brits want local councils to recommended IFAs to help with later life planning costs
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Quilter commits to fast track financial adviser course
Firm expects next cohort to start in April
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Ex-Coutts banker launches AI-powered wealth platform
Firm aims to reach ‘abandoned’ clients with £100,000-£2m in investible assets
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PI woes predicted for small adviser firms after FOS award hike
Pimfa warns that move could act as a barrier to entry for smaller IFAs and widen the advice gap