Money Advice Service Retirement Advisor Directory

In preparation for the changes to pension regulations in April 2015 the Money Advice Service (MAS) is launching an on-line ‘Retirement Adviser Directory’ on which financial advisory firms can register to be listed.

The directory will contain contact details and information on regulated financial advisers who specialise in retirement planning. It will provide consumers with a streamlined, simple mechanism to search for and choose a regulated financial adviser who can provide the advice they need.

All regulated financial adviser firms that offer a full advice service and specialise in retirement advice are eligible to be listed. Advisers will not have to pay to be entered in the directory. 

Name, address and contact details are included, as well as the type of service provided by the firm/adviser i.e. face-to-face, telephone or web (Skype) service. In addition, the qualifications and specialisms held by advisers are included in the information provided, as well as information on fees and charges to give consumers a clear idea of the cost of any given service. 

Consumers will be able to search by post code, and/or type of service offered i.e. telephone, face-to-face or Skype. They will also be able to search by the type of advice they require, i.e. pre-retirement planning or perhaps long term care funding or equity release.

The criteria for entry includes:

  • all customers are to be provided with advice, irrespective of the size of the pension pot i.e. there will be no ‘wealth limit’;
  • comparison between firms will be facilitated through the provision of information in a standard format (including fees and charges); and
  • all advisers listed in the directory will have an appropriate specialism in retirement planning. 

A press release from MAS can be found here.

On-line registration can be accessed here.

 

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

This is a business opportunity for advisory firms who specialise in retirement planning.

It may not suit all firms however so you will need to think through and weigh up the potential pros and cons.

Action Required By You

  • Read the information provided by MAS;
  • Weigh up the pros and cons;
  • Decide whether or not to register with the directory.
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About the Author

Steve is an ATEB Director and has a deep understanding of all matter regulatory, built up over his 30 years + in the industry. With a training background and a technical brain, he overseas numerous complex projects and client implementation work.

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