The guidance guarantee threatens to become a "new tier of advice badged as guidance" and will "fly in the face" of the complexities of retirement planning carried out by regulated advisers, an independent wealth manager warned. Do advisers agree?
AFH Wealth Management technical director Austin Broad (pictured) spoke out against the government's decision to task unregulated bodies the Money Advice Service (MAS) and The Pension Advisory Service (TPAS) with the delivery of the guidance, saying their work will "undermine" that of regulated advisers who deliver more comprehensive, tailored advice. As part of its shake-up of pension rules in March's Budget, the government said it will make available free impartial retirement guidance to those aged 55 and over. Although the guidance will be marketed under a separate brand and as guid...
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