KPMG comments on the FCA’s Advice Guidance Boundary Review proposals for closing the advice gap

In response to FCA’s Advice Guidance Boundary Review proposals for closing the advice gap published today:

Philip Deeks, Director and Head of KPMG’s Regulatory Insight Centre, said:

“This is a welcome initiative that should address the growing demand and need for helpful guidance and targeted support for UK adults. Firms will be able to help customers more proactively with their financial choices which will lead to better outcomes.

"These proposed new rules and clarifications will also make it easier for firms to run successful businesses and create new commercial opportunities. Although further work will be required to ensure the associated governance and oversight is correctly calibrated to build confidence by effectively managing the associated conflicts of interest between commercial gains and customer needs.”

-ENDS-

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Notes to Editors:

About KPMG UK

KPMG LLP, a UK limited liability partnership, operates from 20 offices across the UK with approximately 18,000 partners and staff. The UK firm recorded a revenue of £2.96 billion in the year ended 30 September 2023.

KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 273,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.