A quarter of Brits want a return to commission
Half of UK clients would prefer to pay a fixed rate for a standard piece of advice work, such as setting up a pension, but almost a quarter want the return of traditional commission.
Advice Gap
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UK fintech start-up to launch straightforward robo-adviser
Robo-advice and investment service Munnypot said it plans to launch a financial advice service to the UK market in the autumn that offers straightforward advice using simple language.
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Retirement fears still stalk the offshore market
A recent survey by HSBC showed that 50% of its clients currently fear retirement.
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Cost seen driving mass affluent investors toward robo-advice
Mass affluent investors are more likely to use a robo-advice service in place of a human financial adviser than higher net worth individuals or institutions, according to a survey by Australia’s Chartered Financial Analyst (CFA) institute.
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UK Gov’t kick-starts consultation into accessibility of advice
The Treasury and the Financial Conduct Authority (FCA) have jointly initiated a consultation to “radically improve” the access and affordability of financial advice in the UK, the first step in a major review of the industry.
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APFA says UK Gov’t needs to fix ‘unfair rules’ facing advisers
The UK Government needs to address “unfair rules” which mean advisers face uncapped liability until death, the Association of Professional Financial Advisers (APFA) said in its response to the launch of a Financial Advice Market Review.
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Regulators criticised for failing consumers
European regulators have come under fire from industry professionals for not doing enough to protect consumers.
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Advice gap widens as firms struggle with PI insurace
The gap in the availability of UK defined benefit pension advice is growing as advice firms struggle to get professional indemnity insurance and significant players leave the market.