The role of financial advisers has become increasingly challenging amid changing regulations around the lifetime allowance (LTA), according to Royal London.
Speaking to Professional Adviser, head of technical and marketing compliance Clare Moffat said the changing regulations has led to advisers grappling with numerous challenges. Understanding the intricacies of LTA, which places limits on the tax advantages individuals can enjoy with their pensions, remains a formidable challenge for many advisers. The chancellor scrapped the limit in the 2023 Budget, however, Labour has said it would reintroduce the LTA should it get back into government. "Advisers do not know all the answers," Moffat said. "It is confusing being an adviser and havi...
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