There is no scope to water down advice but if the industry wants to be able to serve the 15mn people who need advice but don't get it, change is needed, says Simon Harrington.

The head of public affairs at the adviser trade body says what is currently possible is rooted in 'handbook guidance', rather than the handbook itself, which makes it risky for advisers to experiment with simpler models. To find out how exactly Pimfa's simplified advice would work, and what are the chances of pushing it through the legislative and regulatory bodies, tune in to this week's FTAdviser In Focus podcast.

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

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