The Government and the FCA have been labelled “frustrating” and accused of “navel gazing” for for failing to deliver a solution to the advice gap.
Speaking at the Institute of Financial Planning’s annual conference in Newport today, Partnership chief executive Steve Groves said it is time for the regulator to “step up to the plate” and make advice more affordable for consumers navigating the pension freedoms.
He said: “It is frustrating that 18 months after these changes were announced, we are still navel gazing for solutions to the fact that most clients don’t take advice, don’t take guidance and probably don’t understand the implications of the decisions they’re making.
“That’s more frustrating because this was a problem that was obviously apparent at the time of the RDR. Two to three years on we are still navel gazing, and it is time to act and to come up with solutions to make advice accessible to far more people… Read more at Money Marketing