It has been one of the big unanswered questions as plans for a catch-all, free retirement guidance service have developed: What if they get it wrong?
This week the government painted a clearer picture of how its ‘guidance guarantee' will work: ‘impartial' delivery partners (meaning they won't be product providers) will be tasked with delivering free info-only guidance to all retirees, should they request it, from April next year. Tidy. As pensions minister Steve Webb told us, the ‘guidance moment' that consumers receive should entail questions such as ‘What is drawdown?', and most certainly not ‘Is this Axa product the one for me?' But can the answers to what appear strict FYI-only questions prove damaging? Delivery partners wil...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes