A report by Fidelity and the Cass Business School suggests as many as 43 million Britons could fall into what they call a “guidance gap” as a result of the Retail Distribution Review (RDR), with only 14% – or 7 million – adults saying they are likely to pay a fee for advice.

In this video, Fidelity’s Tom Stevenson explains the reasons behind this unintended consequence of the RDR and reveals why it should act as a wake up call for the financial services industry and individual savers and investors.