Advice Unit: tools and resources for firms

See the tools and resources the Advice Unit has published to help firms.

Current resources

We have published signposts to existing rules and guidance which may be useful to firms in the financial advice and guidance space. In April 2017, we published GC17/4: Financial Advice Market Review (FAMR): Implementation part 1 which draws on the experiences of the Advice Unit.

On 1 August 2017, we published CP17/28. Chapter 5 of this consultation sets out proposed guidance informed by the experiences of the Advice Unit.  

This consultation closes on 2 October 2017.    

Future resources

Going forward, to promote effective competition and to ensure that the wider industry benefits from the initiatives of our Advice Unit, we will develop further tools and resources informed by the experiences and insight gained in our work with individual firms. Examples of potential tools and resources may include:

  • Guidance: guidance informed by our work with firms in this area. 
  • Scenario testing: a set of standardised testing scenarios that firms can use to gauge the effectiveness of their automated models.
  • Authorisations guide: a guide on the authorisations process for firms looking to deliver automated advice models so they are able to navigate it more efficiently.

We will also use our interactions with firms in our Advice Unit to inform our broader regulatory approach for financial advice and guidance.