Speaking at this year's Distribution Technology (DT) conference, former Financial Conduct Authority (FCA) technical specialist Rory Percival explained why the regulator has endorsed the growth of the automated advice market.
When then-chief executive Martin Wheatley stood in front of an audience at Bloomberg in May 2014 announcing the FCA would make it a priority to help advisers innovate their business models to reach the middle market, not everyone in the industry was convinced. Since then a lot has happened. The definitions of advice have been reworked to make it easier for firms to recognise the regulated boundaries, and the regulator introduced a so-called "advice unit", allowing firms to trial disruptive ideas. Then, in September, the FCA announced eight 'large-scale' robo-advisers were on the cusp ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
