A larger-than-usual increase in pension sales in the final three months of last year suggests a "push for commission" among financial advisers, according to research consultancy Fundscape.
Flows into pensions on platforms hit £4bn in the final quarter before RDR: a third of all new money and an increase from £3.2bn in the previous three months. Though Fundscape said pension sales often rise in Q4, its managing director, Bella Caridade-Ferreira, noted the spike was higher in 2012 than in previous years. "Gross and net flows fell in Q3 because advisers were getting their heads down before RDR [the Retail Distribution Review]," she said. "Equally in Q4 we saw a push into pensions, but this time it is the last chance to sell to people and get some commission-based busine...
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