Rory Gravatt: Defaulting on the value of advice

First the Financial Conduct Authority (FCA) and now the Work and Pensions Committee see this as the new way forward. The assumption seems to be that lower charges will offset the absence of any maximum income limit to minimise the risk of the state being hit with a future benefits crisis. Personally, however, I don't believe it. If we look back just a few years, we see a regulator who frequently frowned on drawdown for the typically risk-averse client - and instead vouched for annuities. The political landscape may have changed but economic realities have not - drawdown may be right for ...