'Word 'retirement' is almost inappropriate': A Q&A with APFA's Chris Hannant

What do the changes announced at Budget 2014 mean for retirement advice? What the Chancellor said is everyone should get advice. But the Treasury is clear – and its publications are clear – that it is actually talking about information and guidance. It is advice in the everyday usage of the word, not in the sense of a regulated sale of an investment product. What we think is very important is there should be a clear handover to an advised process so someone can get an adviser if they don't have one already. Those with a large amount of assets will want to access them in a tax-efficient...