FCA reports on survey of firms providing financial advice

The FCA today published its report on its survey of firms providing financial advice. This report summarises the results of a survey of 233 firms active in providing financial advice on retail investment products, carried out in November 2015. The results from this survey informed Financial Advice Market Review (FAMR) and the proposals recommended. Additionally, the results of this survey are being used to inform the FCA’s ongoing supervisory work in this area.

It was used to gain a better understanding about the profile of the customers of advice firms, the barriers that firms face in expanding the provision of advice to the mass market, the use of technology in the advice process, and the advice firms’ views on the future of the advice market.

The full report can be found here.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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