Providers must show 'adviser solidarity on annuities'

Chartered Financial Planner for the Annuity Specialist Alan Mellor argued that non-advised companies have unfair negotiating clout with providers as a result of their distribution volumes. He said this means they get better flat rate deals than advisers when they buy wholesale and that these deals are actually being "subsidised by advisers buying the products at full price". He explained that the end result is that clients, who are shopping around on price, go to non-advised companies as a result of lower prices, but may end up buying the wrong pension because they are not aware of th...