The CISI has raised concerns that the FCA could be sending “mixed messages that may devalue qualifications” if recommendations from the FAMR are implemented.

Plans for a “single clear definition of financial advice” have been outlined in the Budget today.

The FSCS and Financial Ombudsman Service could both be set to undergo significant reforms after recommendations published this morning by the FAMR.

Retirees must get Government funded vouchers to pay for professional financial advice, a pensions company says.