Tony Müdd, divisional director - development and technical consultancy, St. James’s Place, discusses the Financial Conduct Authority’s (FCA’s) exclusion of protection in its Targeted Support initiative.
The FCA wants to bridge the gap between guidance and advice in a move that has been described, not unreasonably, as one of the biggest shifts in the UK's retail advice landscape since RDR. Whether it will succeed in its ambitious aims will remain to be seen but more recently it is the exclusion of protection that has raised important questions about priorities, boundaries, and joined up thinking in consumer financial resilience. Here, unusually, I find myself at odds with a number of industry colleagues who believe the exclusion of Protection is a significant error. Don't get me ...
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