Steve Conley: Can unregulated planners help plug the advice gap?
By
Steve Conley
10
th March 2021
2:05 pm
Financial planning is something advisers do before financial intermediation. A financial planner agrees a client’s financial goals and needs for the future, and the strategies to achieve them.
A financial intermediary then acts as a broker between the client and a financial provider in a transaction.
Financial intermediation is regulated by the FCA. Financial planning is not. If a planner also runs an advice business, the financial planning is likely to be treated as a regulated activity. However, planners are quitting advice firms to focus on non-regulated business.