The Treasury Committee, the influential House of Commons group of MPs, has backed the appointment of new FCA chair Ashely Alder who will take over at the FCA from February.

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.

Former Economic Secretary to the Treasury Harriett Baldwin MP has been elected chair of the influential Treasury Committee.