The Personal Finance Society (PFS) is gathering evidence of the value of financial advice to challenge the Financial Conduct Authority’s (FCA) view of the sector.

The professional body asked Financial Planners to share examples of where they have provided value to their clients.

The FCA’s Consumer Investment Data Review stated an increased increase in transactional advice rather than ongoing advice is the best way to ensure investors take risks with part of their wealth to improve their financial resilience.

The FCA based its conclusion on consumer research suggesting many were unaware how much they were paying for advice and assessed its value by looking at the performance of their investments.

Matthew Connell, director of policy and public affairs at the PFS, said: “The FCA has shown that it believes that advice is an important element in achieving good outcomes for consumers, but it has also expressed scepticism around the extent to which consumers should rely on ongoing advice.

“The key to winning this argument is to create evidence of a population of clients who not only benefit from the undoubted advantages of ongoing advice, but who can articulate those advantages in the context of the fees that they are paying for advice.”

Financial Planners have been encouraged to share examples of the value of ongoing advice delivered to their clients with the professional body so it can present them as evidence to the FCA of why they should rethink their approach.

PFS members can share examples of the value of ongoing advice given to their clients by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. or by tagging the PFS’s social media channels and adding the hashtag #pfsvalueofadvice.

• Editor's Note: The email address for the campaign was incorrectly supplied initially, this has now been correction.