What is for sure is that these new rules have to be simple. Financial advisers and their clients have to have the confidence that the rules are approachable, easy to understand, with nothing lurking to trip them up either now or later down the line.
Removing the LTA should be a step forward in simplicity. Whatever comes next cannot take us back to the beginning by adding complexity and obfuscation.
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Rachel Vahey is head of policy development at AJ Bell
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