FCA and Treasury launch 'advice gap' consultations

Aim to improve access to advice

The Treasury and Financial Conduct Authority (FCA) are launching consultations into robo-advice and free guidance provision as ways to close the advice gap.

The consultations will launch simultaneously today and will form the first step of the wider Financial Advice Market Review (FAMR), which was unveiled on 3 August and seeks to explore how access to advice can be "radically improved". The advice consultation will focus on the following questions: • What kind of financial advice do consumers want? • Are there gaps between the financial advice that consumers want, and the financial advice that they can access and afford? • How can these gaps be closed? • What role could technology, such as "robo-advice", play in improving access to...