Four big banks among participants in FCA advice unit

Four advice firms also on list

clock
Four big banks among participants in FCA advice unit

Four big banks are among the 17 firms accepted into the Financial Conduct Authority's (FCA) robo-advice development project 'advice unit', the regulator has revealed.

In a statement released today, the FCA named the participants in its first two rounds of the project, which aims to help firms develop automated advice and discretionary investment management models. Among them were banks HSBC, Lloyds, National Westminster and Santander and building society Nationwide, as well as advice firms Mortimer Mackenzie, True Potential, Personal Touch and Standard Life's 1825. The number of banks represented suggests a keen interest to move back into the advice space...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Exclusive access to our fortnightly Protection insight mini-podcast.
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Adviser / Broking

Third of working adults are stressed about meeting their immediate financial needs: Fidelity

Third of working adults are stressed about meeting their immediate financial needs: Fidelity

Covid-19 pandemic sparks feelings of stress, anger, and fatigue

Nafeesa Zaman
clock 30 November 2021 • 2 min read
Financial planning and mental, physical health intrinsically linked: HSBC Life

Financial planning and mental, physical health intrinsically linked: HSBC Life

Advice also plays an important role in good mental and physical wellbeing

John Brazier
clock 24 November 2021 • 1 min read
Turnbull has held previous digital-focused roles with British Gas and The AA.

Reassured appoints James Turnbull as first chief digital officer

“Maximising this potential is my main priority”

John Brazier
clock 24 November 2021 • 2 min read