Advisers are utilising a wider variety of pension products than they were in 2022, with personal pension, drawdown, and self-invested personal pension products (SIPPs) proving most popular.
Defaqto's 2024 Pension Service Review - published today (14 February) - shows advisers are utilising 3.84 different pension products on average compared with 3.2 in 2022. The annual survey measures satisfaction among advisers for service levels of providers and is the first to take place since the introduction of Consumer Duty last summer. Defaqto noted the impact of the regulation, combined with the Financial Conduct Authority's thematic review of income advice, had increased pressure on advisers and driven the "significant increase" in variety of recommendations. Survey findings ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
