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<p>The Financial Service Authority's Retail Distribution Review aims to raise the professional standards of advisers, improve the clarity with which firms describe their services to consumers and make clear the cost of investment advice—addressing the commonly held perception that advice is free.</p><p>For a significant group of consumers, including low net worth individuals, it may not be justifiable for them to pay for advice based on the amount they have to invest. For these consumers, generic, free advice services, including the Money Advice Service, will remain a useful source of guidance, enabling consumers to make informed decisions about their finances.</p> |