The Personal Finance Society is to step up its campaign for a second Financial Advice Market Review this year to tackle a potential worsening of the ‘advice gap.’

Half of financial advisers taking part in a PFS survey have expressed concern about about a potential new client shortage in 2021.

The Personal Finance Society has welcomed the FCA’s adviser sector study published yesterday showing rising financial adviser numbers but warned there are still too few advisers to meet demand and soaring PI insurance costs are hitting the profession.

The Personal Finance Society has welcomed a boost this week to Government-backed apprenticeships for SMEs which could help with personal finance recruitment.