What can be done about the advice gap?

clock

How many consumers know - or would believe anyway - that the financial benefits of regulated advice can more than offset its cost? Robert Cochran examines some of the key issues surrounding the 'advice gap'...

Following the Retail Distribution Review (RDR) and the pension freedoms, the landscape for advice and guidance in retirement planning has changed significantly. To the untrained eye of the consumer, the result is more transparency over fee charges, but there's still a baffling array of advice and guidance that they have to pick their way through. As the defined contribution pension market matures, there's a growing number of people with relatively modest pension savings, and it's becoming apparent that there's a gap in the market for advice aimed at people with smaller drawdown pots. ...

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 Regulation

Two firms declared in default by FSCS over pensions advice

Two firms declared in default by FSCS over pensions advice

Both Oakwood Financial Management and GO IFA are no longer trading

Isabel Baxter
clock 11 April 2024 • 1 min read
FCA lays out 2024/25 fees/levies proposals; £755m planned spend

FCA lays out 2024/25 fees/levies proposals; £755m planned spend

‘We recognise that firms continue to face inflationary pressures’

Hope Coumbe
clock 09 April 2024 • 4 min read
FSCS places Lancashire firm Frodsham Financial Planning in default

FSCS places Lancashire firm Frodsham Financial Planning in default

Advice practice formerly traded as Tom Carroll Associates FP

Hope Coumbe
clock 13 February 2024 • 1 min read