Four out of five investment advisers are concerned that inappropriate products are being rushed to market to take advantage of changes announced in the Budget, research has found.
The survey, carried out by fund manager State Street, looked at the likely impact of relaxing regulations around how defined contribution (DC) savers take their pension pots. Of the 70 investment advisers surveyed, 15% were "very concerned" about providers marketing unsuitable products to retirees and 64% were "slightly concerned". Insurance executives were even more worried about this risk: 22% said they were "very concerned" while 56% were "slightly concerned". The changes have already triggered a slump in annuity sales and State Street UK head of insurance solutions David Howie ...
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