Almost half of those opting for income drawdown in retirement have done so without seeking advice, new data from the Financial Conduct Authority (FCA) has shown.
The regulator found customers going into drawdown are the most likely to have used a regulated adviser with an opt-in rate of more than half (58%). But this means 42% of those opted against advice...
Royal assent soon
Only one in ten opt for an annuity
The Department for Work and Pensions (DWP) will ban the charging of flat fees on auto-enrolment (AE) pots valued at or below £100 and launch work on how to standardise cost and charges reporting.
Third highest monthly figure since 1993
'Cannot normalise this level of loss'
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
Supported over Christmas
Plus online scams