The FCA published its evaluation of the impact of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) on 3 December 2020. While the financial advice market has improved since the introduction of RDR and FAMR, albeit at a slow pace, the FCA observed that a lack of competition in the sector has limited innovation and removed more affordable services to customers. The FCA will use this review as a key component of its upcoming review of the wealth management sector, and firms should note key areas of concern.
Download this At a glance to see our summary of the FCA’s findings and the potential implications for firms.
Director, PwC United Kingdom
Tel: +44 (0)7730 146626
Senior Associate, PwC United Kingdom
Tel: +44 (0)7483 329595