As HM Treasury and the Financial Conduct Authority invites input into the Financial Advice Market Review, Citizens Advice says it is important to establish the ‘full extent’ of advice gaps.
Later this week Citizens Advice will publish a new report on the size and shape of different advice gaps identified through its research.
“Getting the right money advice, support or guidance can be the key to a secure financial future,” said Gillian Guy, chief executive of Citizens Advice.
“To be a success the Financial Advice Markets Review must understand the full extent of the problems around the advice gaps.
“The price and availability of products and services is important, but the review must also address gaps in people’s knowledge and understanding of what help they can get with planning their finances, and how to access it. The government, IFAs, financial institutions, consumer bodies and charities should take this opportunity to work together to meet needs of consumers who want who want help to make the right decisions for their future.”