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FCA re-opens applications to robo-advice unit

FCA re-opens applications to robo-advice unit

The Financial Conduct Authority (FCA) has re-opened applications to its robo-advice unit. 

Firms will be able to apply to the unit between 3 January and 3 February 2017. 

The FCA set up the unit following the reccomendation of the Financial Advice Market Review (FAMR) in March. 

The unit offers firms support to develop online advice propositions for the mass market.

In September the FCA said it had approved nine firms out of 19 applications since it launched the unit in June.  Eight are ‘established firms’ in financial services.

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