Pension providers move away from signposting clients to advisers

‘This cannot be the right outcome for consumers,’ VouchedFor founder says

Isabel Baxter
clock • 1 min read

Pension providers have moved away from signposting consumers toward third-party financial advisers, VouchedFor has found.

For the research, VouchedFor looked at the websites of 15 pension providers and found that only three signposted consumers toward a financial adviser directory on their most prominent page about financial advice.  Meanwhile, three promoted their own financial advice services as the dominant option, and one promoted it alongside external sources of help. Most commonly, consumers are signposted toward government guidance services - Money Helper and PensionWise - with eight out of 15 pension providers taking this route. The providers included in the study were: Standard Life; Legal & ...

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