Guidance guarantee must include nod to full advice - APFA

The trade body said the guidance guarantee "should make clear the benefits of advice". In a consultation response, it said: "The FCA's Thematic Review of Annuities shows that it is no more expensive to take advice, when considering an open market option, than to purchase an annuity direct or via a non-advised intermediary. "Speaking to a regulated adviser in beneficial in the long run as they can explain the different annuity options and also advised on other options such as drawdown and phased retirement." APFA said the hand-off from the guidance to options to access a consumer's ...