Major review of financial advice market launched

The Financial Advice Market Review (FAMR) has been set up to improve less wealthy consumers' access to financial advice.  It follows the introduction of the pensions freedom and choice reforms in April which gave defined contribution retirement savers complete access to their pension pots without the need to buy an annuity. A Treasury announcement said the review will: Examine the 'advice gap' for those people who want to "work hard, do the right thing and get on in life but do not have significant wealth"; Ensure the regulatory and legislative environment allows and encourag...