“The FCA plans to exclude pension decumulation, including annuities, from simplified advice due to its inherent complexity involving income tax, inheritance planning, and means-tested benefits. Jenny Davidson from Quilter supports this exclusion, highlighting the need for comprehensive advice in navigating intricate pension decisions”.
The Financial Conduct Authority (FCA) is proposing new measures to address the financial advice gap, particularly for individuals with smaller investment amounts. The regulator is considering three key initiatives: introducing simplified advice for cost-effective personal recommendations, clarifying conditions for offering support without regulated financial advice, and allowing firms to tailor support for specific groups in similar circumstances.
Link: https://www.globalfinancesdaily.com/alistair-mcqueen-could-ai-support-a-happy-retirement/
