The majority of industry professionals believe that the Financial Conduct Authority (FCA) should not be responsible for plugging the support gap for those transitioning into retirement.
In a recent PA Asks poll, 61% said the FCA should not be tasked with this responsibility, whilst only 16% said they believed it is the regulator's job. Nearly a quarter (23%) admitted uncertainty on the matter. One respondent who said the FCA should not be responsible for plugging the support gap, said if the industry relies on the watchdog to "innovate", then professionals "will be waiting a very long time". The respondent continued: "This is not the FCA's role. The advice profession needs to do this, some will succeed, and some will fail, that is how the market should work. Too m...
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