Investment management trade association PIMFA says the regulator must do more to ensure financial service offerings keep up with changing consumer needs, technological advancements and social norms.

PIMFA was responding to the FCA's request for input on its evaluation of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FADR).

In the response Simon Harrington, senior policy adviser, said using financial advice has a “clear and obvious benefit”.

Financial advice is expected to become more important in the coming years, as people ...