Sam Tate, a director at New World Financial Group, says while he welcomes the FCA’s attempts to make investing easier and introduce flexibilities around paying for advice, going down the simplified advice route would not fit in with his business model.
“A lot of work has been done over the past 10 years or so to improve the suitability of advice, and a focus solely on investment advice within a specific product carries a risk that the advice may not be suitable to the client’s overall needs,” Tate adds.
https://www.ftadviser.com/regulation/2022/12/08/what-are-the-challenges-facing-the-fca-s-simplified-advice-regime/?page=1
