![]() ![]() These proposals are part of our work to deliver a consumer investment market where people can readily access support and firms aren’t deterred from providing it.” Sarah Pritchard, executive director of markets at the FCA, said: “Now more than ever, people across the UK should have access to useful and affordable financial products and services which can improve their quality of life and support the economy. The FCA wants feedback on its proposals by 28 February 2023. Subject to the responses received, it aims to publish a final policy statement and finalise rules and guidance in spring 2023 and is targeting implementation of the regime before the end of the 2023/24 financial year, so firms will be able to start offering core investment advice from the beginning of April 2024. ![]() Richard Wilson, chief executive of Interactive Investor, said: “This is a watershed moment in the UK. It will determine whether we can begin to change the narrative around long-term financial wellbeing. Get it right and the financial services industry can find simple solutions that break down barriers to advice and crucially, reduce the advice gap. “What we need is simple solutions, with clear pathways that don’t make people feel anxious – solutions that are easy enough that people will actually do it. Financial advice currently centres around complex suitability homework which gets in the way of finding simple, affordable solutions. This is joined up, right way round thinking from the regulator.
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