FECIF Editorial | March 2026

As the European Union advances the Savings and Investment Union (SIU), one element remains central to its success: financial advice. Expanding citizens’ access to capital markets and enhancing investment opportunities for companies is a core ambition of the SIU. Yet these goals cannot be achieved through regulation and product design alone. Without high-quality advice, citizens may remain hesitant to invest, and the promise of a truly integrated European financial market risks remaining theoretical.

Investment in capital markets remains limited for many Europeans. Citizens often perceive risk as high, products as complex, or the system itself as opaque. As a result, savings remain concentrated in low-yield accounts, while opportunities for long-term growth - both for investors and for companies - are lost. Professional financial advice is essential to bridge this gap, translating complex products and regulatory requirements into guidance that citizens can understand and act upon.

The value of competent advice extends beyond information. Advisers help investors navigate uncertainty, mitigate behavioural biases, and make decisions aligned with their long-term goals. They are intermediaries who can turn policy objectives into practical outcomes, enabling citizens to participate meaningfully in capital markets. At the same time, strong advisory frameworks support the broader economy, facilitating sustainable funding for businesses and improving the efficiency of capital allocation across Europe.

Despite its importance, the quality and consistency of financial advice across the EU vary widely. Qualification standards differ between Member States, creating disparities in the skills and preparedness of advisers. At the same time, the rapid growth of alternative distribution channels - digital platforms, neo-brokers, and execution-only services - has broadened access to investment opportunities but also introduced new challenges. Many investors may find themselves navigating increasingly complex products and services without sufficient guidance, highlighting the need for careful attention to the overall quality of advice.

The SIU therefore presents an opportunity not only to expand access to capital markets, but also to give financial advice the consideration it deserves in policy design. Policies should encourage harmonized professional standards across the Union, ensuring that advisers are adequately trained and equipped to guide investors through a diverse and evolving market. At the same time, digital innovations should be developed to complement human guidance rather than replace it, providing tools that support advisers and investors alike while maintaining clarity, context-sensitivity, and accountability. A thoughtful combination of access, high-quality advice, and practical safeguards is essential if the SIU is to translate ambition into real benefits for citizens and businesses.

Looking ahead, 2026 will be a pivotal year for the implementation of SIU initiatives. Legislative negotiations, regulatory rollouts, and the practical application of new measures will all intersect with the discussion on the role of financial advisers and the standards that should define their work. Success will require balancing ambition with pragmatism, ensuring that expanding access to markets is matched by guidance that is clear, reliable, and genuinely helpful for investors in making long-term decisions.

To maximize the potential of the SIU, financial advice must be taken seriously in policy discussions. It is not enough to open new opportunities; citizens need support to navigate them effectively. By giving proper attention to the quality, accessibility, and relevance of advice, the Union can help ensure that investors are empowered, that companies gain stable and diverse financing, and that European capital markets grow in a sustainable and inclusive manner.

2026 will test whether the EU can combine access, protection, and competence in a coherent way. Only by addressing these challenges can the SIU deliver tangible results for citizens, investors, and the broader economy.