Pension industry experts have highlighted a high proportion of investors are making “poor decisions based on poor advice” and a reluctance amongst firms to provide advice on pensions.
The Financial Conduct Authority's (FCA) latest publication, Driving Purposeful Cultures, Pensions Management Institute president Lesley Carline and Duncan Watson, CEO of EQ Paymaster, co-authored an essay on the pensions sector. The essay pointed out the need to adapt the pensions market after the "arrival of auto-enrolment and defined contribution freedoms" altered the landscape. It said "regulatory inhibition" had resulted in a reluctance from firms to provide guidance around pensions, which resulted in bad outcomes for investors. "We are all concerned about overstepping the advi...
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