Facilitated and written by: David Ingram – Aim Two Three Expert: Brendan Llewellyn – Adviser Home
Headline Finding 1:
Concerns of Treasury seem to be concentrated on middle earners / middle wealth owners “Mass affluent”.
Headline Finding 2:
Feedback suggests a lower qualification level for advisers looking at protection and savings would help reduce advice gap.
Headline Finding 3:
Redefine advice so that basic advice can be delivered with a lower regulatory cost.
Headline Finding 4:
Robo advice may depress fee levels for all advice types.
Headline Finding 5:
Funding of new business models can be difficult.
What’s next?
FOS should ‘back-test’ simplified advice based on lower expectations than a face advice model.
- Workplace solutions.
Specific need for clarity of the difference between guidance and advice.