The government has unveiled the branding of its guidance guarantee - the name of the service will be Pension Wise. Its stated purpose is to offer 'free guidance' to those approaching retirement, so that more than 300,000 consumers over 55 will be more informed about their options, now that they have full access to their pension savings.
But do consumers know what they can expect from Pension Wise? Our recent research indicates a certain confusion. Many people aren't clear as to the difference between 'guidance' and 'advice', and indeed some media channels continue to misreport it as 'free advice'.
Should clearer distinctions be put in place by the government to demonstrate the difference? Are advisers championing the value of advice enough? Share your thoughts on LinkedIn here.
Already 2015 is shaping up to be the 'Year of Financial advice'. So we've been asking consumers about their financial priorities this year. In our poll, 42 per cent said 'Planning my retirement' would be their biggest financial event of the year, while 22 per cent said it would be 'Buying my first home' - so there's plenty of activity going on at both ends of the age spectrum. What do you think people's priorities should be this year? Hashtag #YearofAdvice on Twitter and let us know.
This year the FCA will focus on due diligence as part of their annual review. Financial compliance consultant Tony Catt talks us through the ideas behind due diligence and how to better prepare yourself for the forthcoming review - should you find yourself in that situation. Read here to browse through his research process as well as key factors you may want to consider.
What issues are your clients most interested in right now? Help us to generate more leads for you by giving us the view from your window. Keep tabs on the latest advice trends by sharing your own, and then read our findings each week. What's hot? Pensioner bonds, drawdown, equity release, stamp duty, something else? Look out for our advice weather report in the next newsletter.
Category: News Tagged: guidance guarantee
