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17 October 2014

With just six months to go before flexible pension rules come into force, new research from the Association of Professional Financial Advisers (APFA) finds that financial advisers are keen to provide guidance guarantee advice.

 

The research, carried out for APFA by NMG Consulting, shows almost half (45%) of financial advisers would like to be listed in the Money Advice Service (MAS) directory of advisers prepared to give pension advice after a consumer has taken up the guidance guarantee.

 

APFA’s research also finds additional, conditional support for a directory among a further quarter (28%) of financial advisers who would like to be included on the MAS directory, providing they can stipulate client criteria.

 

Chris Hannant, Director General of APFA, said:

“We believe that professional financial advisers are going to have a big role to play in helping many consumers take advantage of the new flexibility in retirement.

 

“The hand-off from guidance to regulated financial advice is a crucial stage in the process and one that is important to get right.

 

“We’d like to see MAS allow financial advisers to stipulate client criteria, such as minimum levels of assets they will advise on, before being included in the directory. The purpose of the directory is to help match the right consumer with the right financial adviser, so the more information the directory contains, the better the outcome for consumers.”

 

 

 

ENDS