IFAs may be pushed out of the market as consumers shop for pensions online, annuity administrator Xafinity Paymaster has warned.
The internet is the second most popular channel for annuity advice at retirement, after consumers' existing investment provider, according to research by Xafinity. In third place for retirement advice is the investors' current employer or scheme trustee for at retirement advice. Advisers came in fourth place for pension advice, according to the survey of employee benefit consultants, IFAs and providers. High street banks came last in terms of popularity for annuity advice. More industry professionals believe intermediary sales will reduce due to the retail distribution review (R...
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