The development of the Guidance Guarantee continues to stoke industry debate. What should it look like? Who will deliver it? And how much will it cost?
The Chancellor's initial claim that people will get free face-to-face advice at the point of retirement has since been clarified. Both the Treasury and the pensions minister have said the service is more likely to provide guidance rather than advice and it does not necessarily need to be delivered face to face either. So what role can advisers play in this? In this month's issue, I interviewed the Personal Finance Society's (PFS) chief executive Keith Richards and he believes advisers can play a major role. The PFS has put forward the idea of a National Guidance Service where people ...
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