Pension providers move away from signposting clients to advisers

‘This cannot be the right outcome for consumers,’ VouchedFor founder says

Isabel Baxter
clock • 1 min read

Pension providers have moved away from signposting consumers toward third-party financial advisers, VouchedFor has found.

For the research, VouchedFor looked at the websites of 15 pension providers and found that only three signposted consumers toward a financial adviser directory on their most prominent page about financial advice.  Meanwhile, three promoted their own financial advice services as the dominant option, and one promoted it alongside external sources of help. Most commonly, consumers are signposted toward government guidance services - Money Helper and PensionWise - with eight out of 15 pension providers taking this route. The providers included in the study were: Standard Life; Legal & ...

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

Isabel Baxter
Author spotlight

Isabel Baxter

Senior Reporter at Professional Adviser

More on Your profession

The state of financial vulnerability in 2024 and what 2025 holds

The state of financial vulnerability in 2024 and what 2025 holds

'Most firms are now heading in the right direction with their vulnerability processes'

Richard Farr
clock 20 December 2024 • 3 min read
Feel Good Friday: BRI Wealth Management raises money for homeless charity

Feel Good Friday: BRI Wealth Management raises money for homeless charity

Firm has raised £650 for Let’s Feed Brum

Professional Adviser
clock 20 December 2024 • 1 min read
Bank of England holds interest rates steady at 4.75% amid heightened inflation

Bank of England holds interest rates steady at 4.75% amid heightened inflation

Interest rates remain the same

Sorin Dojan
clock 19 December 2024 • 2 min read