HM Treasury (HMT)and the Financial Conduct Authority (FCA) recently published the final report of the Financial Advice Market Review (FAMR). The aim of FAMR is to support the development of a market which "provides affordable and accessible financial advice and guidance for everyone, at all stages in their lives". FAMR found that, at the moment, there is a significant proportion of the population that would benefit from advice that is not currently receiving it. This has been called the “advice gap”.
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© Farrer & Co LLP, April 2016