Will industry recommendations outpace FCA?

Helen Morrissey
clock

Otto Thoresen's recent letter to The Sunday Telegraph shows an industry that is ready for change. All of the recommendations put forward seem sensible and will go a long way towards helping people get more from their retirement income.

It will be interesting to see how these changes tally with any recommendations the Financial Conduct Authority (FCA) makes when the final results of its review are published early next year. The most important recommendation from my point of view is that retirees actually talk to someone at the point of retirement. The average person does not know enough about the retirement market to be able to make an informed decision, and so support is vital. While ideally this can come in the form of regulated financial advice, it is clear that financial advisers are not able to service everyone,...

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

Join

 

Already a Professional Adviser member?

Login

More on Income

Annuity rates reach 18-year high of 7.75% in July

Annuity rates reach 18-year high of 7.75% in July

Up from 7.66% in April

Sophia Panayi
clock 30 July 2026 • 2 min read
Enhanced annuities: Turning health realities into better retirement outcomes

Enhanced annuities: Turning health realities into better retirement outcomes

'Retirement planning is not about choosing one solution over another but finding the right balance between them'

Mike Batty
clock 20 July 2026 • 3 min read
Robust fact‑finding: Annuities are back but file quality must keep pace

Robust fact‑finding: Annuities are back but file quality must keep pace

'Good quality annuity files tend to have one thing in common: robust fact‑finding'

Shirley Owen
clock 16 July 2026 • 4 min read