What can be done about the advice gap?

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How many consumers know - or would believe anyway - that the financial benefits of regulated advice can more than offset its cost? Robert Cochran examines some of the key issues surrounding the 'advice gap'...

Following the Retail Distribution Review (RDR) and the pension freedoms, the landscape for advice and guidance in retirement planning has changed significantly. To the untrained eye of the consumer, the result is more transparency over fee charges, but there's still a baffling array of advice and guidance that they have to pick their way through. As the defined contribution pension market matures, there's a growing number of people with relatively modest pension savings, and it's becoming apparent that there's a gap in the market for advice aimed at people with smaller drawdown pots. ...

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