Warning FSA drawdown probe ignores real risk

The FSA launched its investigation into the quality of drawdown advice in October last year, sending out questionnaires to firms to check they are implementing the latest rules properly. The review also involves checking the quality of advice before drawdown rules were changed last April, the FSA has since confirmed. However, the investigation has not focused on the ongoing advice given to clients who have been in drawdown for a number of years and who face the greatest risk from poor advice, Andrew Pennie, marketing director at Intelligent Pensions, said. "The review is looking at...