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.

News late this week that personalised financial guidance is to move a step closer has left me in two minds but I’m not opposed in principle to the idea, for reasons I’ll explain.

The prospect of personalised financial guidance has moved a step closer after Harriet Baldwin MP, chair of the influential Treasury Committee, has tabled a motion in the Commons to allow the controversial move.

A new study suggests that 63% of consumers would consider paying a fee for 'personalised' financial guidance.