Advisers could pay third of retirement 'guidance' costs

Under one option being considered by the Financial Conduct Authority (FCA), firms in its A13 fee block, which houses advisers, would contribute 30% towards its costs provided they had an annual income exceeding £100,000. Banks and life insurers, meanwhile, would pay 28% and 17% respectively. Another option would see advisers pay a fifth of the costs. But the regulator is also consulting on a further option as it seeks to determine how the industry meets the cost of delivering the "free, impartial" retirement guidance as promised at Budget 2014. Chancellor George Osborne confirme...