FAMR, combined with digital innovation, presents us with an opportunity to encourage a healthy demand side for financial advice and address the advice gap for those people who do not have substantial wealth. It will require bold reform from the government and the regulator, with the continued support from the industry. However, if we can achieve a sea change in the levels of saving, right across society, to create financial resilience among consumers, then the benefits will be felt by us all.
David Dalton-Brown is director general at Tisa
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