FSCP concern over adviser retirement knowledge

Research commissioned by the Panel to find gaps in regulation suggests there is poor protection for older people who are decumulating their savings. The report suggests advice on retirement income products should be subjected to higher standards than other products, due to the critical and often irreversible nature of advisers' recommendations. It also calls for a less ‘fragmented' approach to financial advice for older people, where individual needs, family needs, state benefits, taxation and health and longevity concerns are all taken into account. The report suggest the FSA may ...