Providers should be forced to deliver guidance guarantee - Higham

Helen Morrissey
clock

Providers should be forced to deliver the guidance guarantee if they are to do the right thing by their customers, says Fidelity's head of retirement insight Alan Higham.

Speaking at the recent Henry Stewart conference, Higham responded to recent comments made by Legal & General chief executive Nigel Wilson that independent bodies such as The Pensions Advisory Service (TPAS) should deliver the guidance guarantee. He said: "Is it better to ban providers from delivering this guidance because they can't be trusted or do we understand that people will talk to their providers and make sure they are doing the right thing by their customers? "Make them do it properly as it's not enough just to point them in the direction of TPAS. Maybe they could hire adviser...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Retirees flock to annuities as sales rise almost 40% year-on-year

Retirees flock to annuities as sales rise almost 40% year-on-year

Annuity sales up 38.7% to 80,061 in 2023/24

Jenna Brown
clock 26 September 2024 • 2 min read
Annuity comparison demand among advisers continues to rise

Annuity comparison demand among advisers continues to rise

Popularity of annuities returned as rates increased

Jenna Brown
clock 24 September 2024 • 2 min read
Advisers back annuities as sales continue to rise in H1

Advisers back annuities as sales continue to rise in H1

Annuity sales reach £3.6bn in H1 2024, ABI figures show

Jasmine Urquhart
clock 21 August 2024 • 2 min read