Simplybiz rules out offering new FAMR advice model
30 Mar 2016
Simplybiz has ruled out offering specific services to support the new model of advice proposed in the Financial Advice Market Review, as it joins a number of industry players questioning demand for the change.
The final report, published earlier this month, recommended fresh consultations by the government and regulator on a proposed new model of financial advice.
Under a revised definition of what constitutes advice, firms would be able to offer services that guide consumers toward their own investment decisions without taking on the same liability and regulatory criteria required when giving a personal recommendation.