Mr Stevens said the SimplyBiz tool would help advisers navigate this part of the market.
He said: “The FCA has absolutely got this in focus, and yet most of the industry is using spanners to knock nails in and trying to bend it into shape.
“Retirement income is a big factor and this tool will blow the socks off everything advisers have used before. The sector is a huge opportunity if dealt with properly but a huge challenge if not.”
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