Standard Life may ban workplace pension adviser charging

Standard Life said it would take action where advisers are seen to be using adviser charging as a replacement for consultancy charging. It said the move was necessary to ‘protect the value of using adviser charging where advice is genuinely required'. In an update on its Adviser Zone website, the firm said it will no longer support adviser charging at scheme set up (it cannot be used to charge people to join), where the charge is in relation to regular premiums, as a regular on-going charge, where there is a direct advice offer proposition or where no individual advice is given. Th...