Market View: Industry anger at advice gap review

“Advice really isn’t ‘just’ for high net worth individuals, over a third of advisers on say they advise on pension pots of less than £25,000, so we already know that there are plenty of advisers in the market place advising consumers with advice needs at all levels.”

Finally, The People’s Pension’s director of policy Darren Philp, stated that regulation has created an artificial divide between guidance and advice. “It is clear to us that advisers are between a rock and a hard place, and often cannot give the help and information that is all most consumers need.

“We would like a situation where advisers are able to add value for all those who want it, regardless of whether this is from a simple chat or a detailed financial plan.”