What is Advice Guidance Boundary Review?
The Advice Guidance Boundary Review (AGBR) is a joint initiative between the FCA and HM Treasury examining the regulatory boundary between regulated financial advice and other forms of consumer support. It aims to close the UK’s advice gap by introducing new ways for firms to help consumers make decisions about pensions and retail investments. Targeted support and simplified advice are the two main propositions emerging from the review.
Advice Guidance Boundary Review in financial services
For firms, the review matters because it changes what can be offered short of full personal advice. Propositions such as targeted support create new ways to help groups of consumers with pension and investment decisions, and firms will need clear processes and records to show they stay on the right side of the advice boundary.