Application form

We have set up the Advice Unit to provide regulatory feedback to firms developing automated advice models that have the potential to deliver lower cost financial advice to consumers, as well as clear benefits for consumers of financial services (either directly or through increased competition in this area). 

This form is designed to help us understand your advice proposition and to determine whether it is eligible for the Advice Unit. We will use this to assess applications. In addition, in our assessment of applications, we may also take into account any other relevant information and circumstances about the applicant and application.

If you are thinking of applying to the Advice Unit and are not sure whether you meet our eligibility criteria, please email us at [email protected] or call us on 0800 458 4161.

This application form

This form is a starting point. It allows us to gather relevant information about you, your business and your advice proposition and helps us to understand exactly what regulatory feedback you require from the Advice Unit. It also allows us to assess if and how the Advice Unit can provide it. We hope completing this document should be straightforward and we welcome feedback on it.

When you submit your application one of our team will review it and, where appropriate, request any further information necessary to understand your advice proposition and your eligibility for the Advice Unit. If we feel we are unable to assist at this time we will confirm this and explain our reasons why.

If we need more information, you will have the opportunity to provide this before we make a decision. You should try and include any information you have that would be useful. For example, a mocked-up version of the consumer journey or screenshots of your advice proposition. If you are unsure whether something is relevant, include it anyway. The more complete your advice proposition is (i.e. it is not just at a purely theoretical stage) the more likely it will be that we can assist you in some way.

Tell us below why you believe your advice proposition meets the eligibility criteria:

We want to understand your proposition's potential to deliver lower cost advice to unserved/underserved consumers.

When answering this section please ensure you tell us about:

We want to understand what benefit consumers will derive from your proposition.

When answering this section please ensure you tell us about:

We want to understand more about your automated advice proposition and the journey the consumer will experience. When answering this section please ensure you tell us about:

We want to understand your current thinking and how far you have developed your proposal. When answering this section please ensure you:

We want to understand why you wish to receive regulatory feedback from us, specifically what needs do you have in relation to your proposition that we may be able to consider. When answering this section please ensure you:

When do you think you will be ready to launch your advice idea? Please indicate if you need support with a particular timeframe. Whilst we will make every effort to help with this, we cannot guarantee this will always be the case.
For example, initial idea, in development, currently piloting etc.
Please tell us if this is within the UK, EEA or elsewhere in the world.

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