FCA tells IFAs to review retirement income advice processes

Comes after regulator’s thematic review of retirement income advice

Jenna Brown
clock • 2 min read

The Financial Conduct Authority (FCA) has told chief executives of financial advice firms to review their retirement income advice processes following the conclusion of its thematic review.

The retirement income advice thematic review investigated how firms were providing advice and found examples of both good and bad practices. The FCA said the review had found some firms which had considered their customers' needs and designed their advice model in a way likely to lead to good outcomes. It said: "Some firms had clearly detailed processes, specific training on decumulation and used a range of tools to help illustrate complex information for customers." However, the FCA added that there were also examples where firms were not taking account of customers' needs.   "...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Income

Legal & General goes digital for annuity applications

Legal & General goes digital for annuity applications

Applications could take 14 fewer days to process

Jenna Brown
clock 01 April 2025 • 1 min read
M&G launches fixed term annuity as it re-enters market

M&G launches fixed term annuity as it re-enters market

Fixed term of between five and 15 years on £10,000 minimum lump sum

Jenna Brown
clock 12 March 2025 • 2 min read
L&G reports record annuity sales of £2.1bn for 2024

L&G reports record annuity sales of £2.1bn for 2024

New business sales of annuities up 48%

Linus Uhlig & Jenna Brown
clock 12 March 2025 • 3 min read