The new Financial Services and Markets Bill 2023 - described by the government as a “rocket boost” for financial services - has received Royal Assent today.

News late this week that personalised financial guidance is to move a step closer has left me in two minds but I’m not opposed in principle to the idea, for reasons I’ll explain.

The prospect of personalised financial guidance has moved a step closer after Harriet Baldwin MP, chair of the influential Treasury Committee, has tabled a motion in the Commons to allow the controversial move.