“There are a number of hurdles that the FCA will face if it is determined to implement simplified advice,” says Caitlin Southall, pensions technical manager at Curtis Banks.
“Legislation is changing and pensions are being used as a political football, so clarity must be provided at the outset of any of the proposals coming to fruition to avoid the potential for poor consumer outcomes.”
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But with the FCA saying it had been told to take its time regarding the advice guidance boundary review, there is likely a way to go before any proposals become reality.
Chloe Cheung is a senior features writer at FT Adviser
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