The Personal Finance Society (PFS) has outlined a proposal for a flat fee model which would help regulated advisers deliver pensions advice to a larger audience, following the unexpected changes announced at Budget 2014.
The organisation, headed by chief executive Keith Richards, is suggesting the development of a single-fee, regulated, 'focused' advice model which would be offered by participating advisers up and down the country. As it would be regulated advice, it would not directly deliver on George Osborne's promise at Budget 2014 that everyone retiring with a defined contribution (DC) pension would have access to "free, impartial, face-to-face" guidance. But it would, Richards said, form part of a larger solution helping those for whom guidance would not be enough, and a full financial review to...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
