Pensions advice the preserve of the wealthy

News from CFM (UK) Limited: New research from AJ Bell reveals that half of advisers won't offer pension freedom advice to savers with less than £50,000 in their pot. The average pension at retirement is worth around £36,600, according to the ABI, leaving millions without advice. Almost one in five says they cannot give advice unless people have £100,000 in their pension and 75% turned clients away because they couldn't earn enough money from them. IFAs blame new regulations designed to prevent another pensions mis-selling scandal which they say have increased their costs.

Daily Express, Page: 27

Posted by Gordon on November 24th 2015

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