“We hope the FCA will now build on PFS work and explore the other potential solutions suggested by the WPSC.”
The FCA recently announced it is calling for industry's input on the role of regulation, admitting some of its rules may harm advisers and their clients.
New opportunities
It could be argued that there has never been a better time to be an adviser as the demand for advice has steadily been on the rise, suggests Verona Kenny, head of intermediary at Seven Investment Management.
She explains: “A large part of this is thanks to the pension freedoms which has created the need for clients to continue to receive advice throughout decumulation; there is a huge opportunity for advisers to help clients in both the accumulation and decumulation phases.
“While advising during drawdown can be a valuable revenue stream for advisers it also presents some significant challenges, such as ensuring clients do not run out of money during retirement.”
She adds: “This is where a centralised retirement proposition and associated retirement investment solutions can help to ensure clients’ retirement pots last a lifetime.”
victoria.ticha@ft.com
