Network calls for 'sensibly priced' retirement advice to combat non-advised drawdown trap

Chairman Steve Young warned advisers needed to step in as drawdown was too complex a product for people to understand even after they have received the government's guaranteed guidance. He also warned the lack of regulation asking for mandatory advice on drawdown left a "massive gap" for non-advised operators to enter the market and target those investors, similar to operators entering the non-advised annuities space in the past. The regulator said in November it will review the non-advised sale of income drawdown products amid concerns consumers could be left vulnerable in the new pe...