The FCA's latest review is on so-called Retirement Outcomes, which is designed to see how the retirement income market is developing on the back of pension freedoms.
The regulator must get some credit for coming at this so early in the sector's development, but as someone said to me: "As long as a client is happy, surely that is all that is needed?" It is a fair point but clearly opens the way for a multitude of criticisms. If the client is happy, does the 'cost' in terms of charges or the potential cost matter if they took no advice or got the wrong advice? Interest rate cut means now is ‘worst time ever' to retire In a perfect world, all consumers would get advice and pay the same charges - but we do not live in a perfect world. That perfect ...
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