CONSUMERS FIND IT HARD TO GET ADVICE ON STAKEHOLDER SCHEMES BECAUSE of the LACK OF PROVISION
Research from market analysts Datamonitor shows stakeholder is creating a consumer advice vacuum due to the lack of incentives available to fund it. Suzie Stokes, financial services analyst at Datamonitor, said: 'Financial advice on stakeholder pensions is becoming hard for some consumers to access as providers struggle to reconcile advice and profits in the 1% pension management charge.' The group estimates that the 1% stakeholder environment leaves no room for the cost of advice, as distribution costs make up 55bp of this, administration a further 35bp and investment management the ...
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