“This review, if it is handled right, is the greatest opportunity to expand independent financial advice in Britain.” Though Heath added the only way it was going to happen was if the advisers come up with a common position.
Meddling claim
However, not all advisers agreed with the move.
“The Government risks undoing its good work to date achieved through pension freedoms by making pensions less attractive,” said Matt Phillips, managing director of Thomas Miller Investment.
“Since the introduction of pension freedoms the Government has continued to meddle and seems determined to carry on doing so,” Phillips said.
“We need a period of stability and clear direction…If advisers could be left to advise clients on saving more for their retirement, then we will all become a lot less likely to rely on the state in the future.”
