Investment - Articles - Comment on the FCA review of automated investment services


Comment from Jon Greer, head of retirement policy at Old Mutual Wealth on the FCA’s review of automated investment services.

 Since pension freedoms, and the subsequent surge in defined benefit pension transfers, access to high quality financial advice is more important than ever. The Work and Pensions Committee recently called for a comparison of face-to-face with robo advice to better understand how automated investment and advice services to help fill the general advice gap.

 The FCA’s review into automated advice has noted some problems with these models, for instance how they can identify vulnerable customers. As these growing pains are worked through we are likely to see more hybrid models which combine the strengths of face-to-face advice with those of an automated process.

 The journey to 24/7 financial advice provided by robots has not been as swift as anticipated and this review offers an opportunity for reflection on how technology best fits within the financial advice industry. Findings from the regulator’s further investigations will be hotly anticipated.

Back to Index


Similar News to this Story

Targeted Support major step towards addressing support gap
Targeted Support is poised to play a pivotal role for potentially millions of non-advised individuals. Non-advised could be supported with at retireme
FCA proposals for millions to navigate their financial lives
Millions more people could get help navigating their financial lives with support on pensions and investments, under proposals announced today by the
Comments on FCA proposals on navigating financial lives
Aviva, Just Group, Standard Life, Scottish Widows and the ABI comment on FCA proposals on navigating financial lives

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.