LONDON: United Kingdom is going to set in motion a consultation on Monday to give people better advice when buying complex products like home loans, pensions and insurance.
The next stage of the Financial Advice Market Review, which was launched in August to see how how financial advice could work better, especially for middle-class consumers, will start on Monday with a public consultation looking at what kind of advice consumers want, how to close any gaps, and what role technology, such as robo or automated advice play.
‘The financial decisions people make can have long reaching effects,’ said Tracey McDermott, acting chief executive of the Financial Conduct Authority which is conducting the review with Britain’s finance ministry.
