Last month marked five years since the final report of the Financial Advice Market Review was published.

The review was commissioned by HM Treasury to find measures to close the advice gap and enable the development of affordable and accessible financial advice - but in the five years since not much has changed and by some measures the advice gap has actually grown. And earlier this year the government was forced to admit one of the measures introduced following the review - the pensions advice allowance - was not working and would be reviewed.

This week, FTAdviser digital editor Damian Fantato is joined by Personal Finance Society chief executive Keith Richards and Prakash Chandramohan, strategic policy director at Tisa, to discuss what can be done now about the advice gap.

They discuss whether the answer is more advice or more guidance, what role advisers and providers have to play in closing the gap and what barriers exist to preventing the advice gap from being closed.

The FTAdviser Podcast is the weekly podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

The FTAdviser Podcast is designed to inform regulated UK advisers on a range of topics, covering investments, pensions, regulation and other key issues.

Hosted on Acast. See acast.com/privacy for more information.