ONSIDE / GUEST COMMENT
operation and we have yet to assess their impact, they will
never take the place of a good financial advisor who can
walk their clients through the myriad of new rules and help
them look at the bigger picture rather than the short term
promise of getting their hands on their pension cash. There
are too many tiger traps and prat falls that lie in wait for
those people tempted to take the plunge and make a grab for
the cash. Whilst the guidance that is being offered by TPAS
and the CAB is a good start there is no way that this can
ever replace a face to face meeting with an advisor who will
look at long terms plans rather than a short term windfall.
There are obviously capacity issues. 400,000 people a year
reaching an age at which they consider their retirement funds
is an impossible job, but the demands and expectations on
the financial services industry will never have been greater,
it is now time for us to stand up and show where true value
lies and how clients come first.
John Fox
[email protected]
0161 763 7070
John Fox is the founding director and shareholder in
Liberty SIPP and is widely recognised in the media as a
pensions expert and market commentator.
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