"There is a clear need to understand the behaviour of people using the pension freedoms and ensure they have all the information, guidance and advice they need to make informed decisions.”
Anna Sofat, founder of Addidi Wealth, said: "People take a very short term view on things and sometimes that is absolutely fine as they have other assets, other times they expect life to work out exactly as it is.
"A great deal of the value that we provide is to ensure clients stay on track with their plans and revisit them."
Ms Sofat said there was a danger further down the line in people being disengaged with their pensions and not having the right tools to make informed decisions, in that they might expect support from the state.
"What needs to be made very clear is that if people have been irresponsible with their pensions then they can’t expect the state to pick up the bill," she said.
She also called on the government to revisit the lack of protections in place under pension freedoms.