Pension advice shortfall expected for pots below £65k

Axa Life Europe's quarterly poll of 244 IFAs found the majority of advisers believe clients with pension pots of £65,600 or less are unlikely to pay upfront for advice on their retirement income options following the implementation of the Retail Distribution Review (RDR). About 22% of IFAs thought pension pots would need to be as high as £100,000 or more before people would pay for advice - indicating that pensions could be among the products which experience a potential shortfall in advice post-RDR. Simon Smallcombe, head of guaranteed distribution for AXA in the UK, said: "While the...