Keeping things simple

At the time, the Personal Investment Authority's Regulatory Update 55 (RU55) - August 1998 - seemed to be complex guidance for the advice process in the at-retirement market. On reflection today, it is a very basic guide to the 'scope of financial advice'. In the intervening years, further guidance on reports and suitability letters as well as the whole treating customers fairly initiative has come out to supplement RU55 since it first saw the light of day. In addition, the simplification of pensions taxation since A-Day and new ways of taking one's retirement income have driven the advice ...