The Personal Finance Society (PFS) has proposed a voucher system for advisers to give free "qualified guidance" sessions to consumers alongside the new single financial guidance body.
Advisers supporting the new body - a merged entity of the Money Advice Service, The Pension Advisory Service and Pension Wise - would then be remunerated by deducting a proportion of the costs from their Financial Conduct Authority levy, the professional body suggested. In a letter to the Treasury, the Department of Work & Pensons, and other ministers, the PFS proposed the sessions would be delivered either by telephone or face-to-face and would result in proper financial advice where there was a need. PFS chief executive Keith Richards (pictured) said many advisers already volunteer...
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