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  • Britain mulls ‘buy now, pay later’ to make basic financial advice cheaper

Britain mulls ‘buy now, pay later’ to make basic financial advice cheaper

Britain's financial watchdog proposed new rules on Wednesday to encourage cheaper advice on simple stock investments from April 2024 by allowing consumers to pay fees in instalments.

by | 30 Nov, 2022

The new rules target consumers with savings of at least 10,000 pounds ($12,017) to invest for at least five years in a stocks and shares ISA, or individual savings accounts, which offer tax breaks.

“The proposals will create a separate, simplified financial advice regime, making it cheaper and easier for firms to advise consumers about certain mainstream investments within stocks and shares ISAs,” the Financial Conduct Authority said.

Read more at Reuters

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