Scottish Widows chair Nick Prettejohn will lead the 15-strong Financial Advice Market Review working group, tasked with working on three recommendations from FAMR.
Prettejohn was also chair of the FAMR expert panel.
Eight of the 15 FAMR expert panel members have returned to be on the working group. They are:
- Which? policy and campaigns director Alex Neill,
- Nationwide group product and marketing executive director Chris Rhodes,
- Legal & General savings director Jackie Noakes,
- Nutmeg director Nick Hungerford,
- Fidelity investment trusts head Nicky McCabe,
- Old Mutual Wealth chief distribution officer Richard Freeman,
- Keyte Chartered Financial Planners director Robin Keyte,
- Financial Services Consumer Panel chair Sue Lewis.
Also on the working group are:
- Financial Services Consumer Panel’s Caroline Barr,
- Citywide Financial Partners founder and FCA Smaller Business Practitioner Panel chair Clinton Askew,
- Wesleyan Assurance Society group chief executive and FCA Smaller Business Practitioner Panel member Craig Errington,
- St James’s Place chief executive and FCA Practitioner Panel member David Bellamy,
- Virgin Money UK chief executive and FCA Practitioner Panel member Jayne- Anne Gadhia,
- Barclays personal banking chief executive and FCA Practitioner Panel member Steven Cooper,
- Money Advice Service policy manager and Financial Services Consumer Panel member Teresa Fritz.
The working group will concentrate on three recommendations from the FAMR: to work with employer groups to develop a guide to the top 10 ways to support employees’ financial health, to publish a shortlist of potential new terms to describe guidance and advice, and to lead a taskforce to design a set of rules and “nudges” to try and increase consumer engagement.
An announcement on the FCA website says: “Members have been selected on the basis of their expertise and interest in advice and guidance, and also their ability to attend meetings and to contribute to its work. They will act in a personal capacity rather than represent the views of their firm or organisation.”