Here below are some links that may of interest to those trying to understand changes and deliberations in the UK and the provision of advice there.

 

• Link to research on the Advice Gap in the UK http://www.fs-cp.org.uk/working_for_consumers/what_we_are_doing/advice_gap.shtml
• Link to research on Simple Products in the UK http://www.hm-treasury.gov.uk/fin_consumer_simple_products.htm
• Panel calls for simple messages for consumers to improve financial health (June 2012)  http://www.fs-cp.org.uk/newsroom/2012/210.shtml  The Panel is calling for a programme of simple, straightforward messages to help get consumers thinking about their protection and savings needs. The industry needs to develop simple messages similar to the food industry's "five portions of fruit and vegetables a day".These need to cover managing short and long term saving, credit and protection with simple memorable rules of thumb. Ensure more people have adequate protection against financial uncertainty and savings for retirement."
• Link to suitability guidance paper 2011: http://www.fsa.gov.uk/library/communication/statements/2012/wealth-management-thematic-work
• Here is the link to the UK MAS https://www.moneyadviceservice.org.uk/.  It contains a Health Check (under tools) to help guide consumers into the next action phase.

The EU funded project ConFinAd provides training to consumer advisors on general consumer financial advice. As the project progresses til end 2013, lessons from the EU Member States will be shared and will be open to discussion especially the difference between information and advice when the advice is generic, does not contain recommendations while still being personalised and the servcie containing explanations that are tailored to the consumer’s circumstances and needs.