Access to the right money advice, support or guidance can be crucial to people securing their financial future, says Citizens Advice.
As HM Treasury and the Financial Conduct Authority invites input into the Financial Advice Market Review the national charity says it is important to establish the full extent of advice gaps.
Later this week Citizens Advice will publish a new report on the size and shape of different advice gaps identified through its research.
Gillian Guy, Chief Executive of Citizens Advice, said:
“Getting the right money advice, support or guidance can be the key to a secure financial future.
“To be a success the Financial Advice Markets Review must understand the full extent of the problems around the advice gaps.
“The price and availability of products and services is important, but the review must also address gaps in people’s knowledge and understanding of what help they can get with planning their finances, and how to access it. The Government, IFAs, financial institutions, consumer bodies and charities should take this opportunity to work together to meet needs of consumers who want who want help to make the right decisions for their future.”