New research by the ABI has revealed that 76% of the people it included in an advice 'experiment' made decisions leading to a better financial outcome when guidance was ‘personalised’ to an individual’s circumstances.

The FCA’s Advice Guidance Boundary Review adds uncertainty rather than removes it, Chet Velani, managing director of Financial Planning fintech EV Financial Solutions has warned.

St James’s Place - one of the UK’s largest wealth managers with more than 4,700 advisers - has given a cautious welcome to the FCA’s ‘simplified advice’ proposals published today but warned that the boundaries between advice and guidance must remain clear to avoid consumers being mis-sold.

Artificial Intelligence technology (AI) can help solve the advice gap, a leading FCA executive has predicted.