Product providers should send their at-retirement customers a list of advisers to help them make better decisions about using their savings, the Association of Professional Financial Advisers (APFA) has suggested.
The list would be limited to those firms that advise on retirement matters and operate in the customer's local area, it said. The suggestion is part of APFA's response to the Financial Conduct Authority's retirement income market study, which is part of the regulator's follow-up work from its thematic review of annuities. The study will look into the behaviour of consumers, the conduct of firms and the structural features of the market. A key task is to tackle the public's conception of the cost of advice, APFA said. APFA research published last month suggested the most common a...
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