PIMFA response to CP22/24 Broadening access to financial advice for mainstream investments

PIMFA response to CP22/24 Broadening access to financial advice for mainstream investments. We have long argued that there needs to be a stripped-down, simplified version of advice for consumers with demonstrably simple needs. These proposals largely achieve this, but with some caveats, such as; the narrow scope of the proposals means that they read more like a guided sales process for selling stocks and shares ISAs, rather than a simplified advice regime; restrictions placed in this proposed regime are likely to reduce its uptake, and therefore value, for firms and consumers, and we strongly believe that the £20,000 limit should be removed