"The impact of this on the advice market will depend on the uptake by providers and the cost at which they can serve consumers. There will continue to be a portion of the market, in particular consumers with more complex needs, or with greater investible assets, for whom a fuller assessment of their needs as part of holistic advice would remain the right solution.
"If firms that currently offer holistic advice put some of their resources towards simplified advice, it is possible that holistic advice becomes more expensive or less easily available, at least while supply adjusts.
"However, given that a majority of the mass market is currently underserved by existing financial advisers, the introduction of a new simplified advice regime is likely to increase access to advice overall."
damian.fantato@ft.com
