What happened?
The FCA views retirement income as a regulatory priority, warning that unsuitable recommendations can cause significant and irreversible harm to the financial wellbeing of retired individuals.
Writing in Money Marketing, TCC’s Technical Director David Boyhan explores what advisers can do to ensure clients receive the right level of care when making decisions about their retirement income.
Why does it matter?
Retirement income decisions are often irreversible, so firms that cannot demonstrate suitable advice in this area are exposed to both regulatory attention and the risk of lasting harm to clients.
Supporting sources
Frequently asked questions
Why does the FCA view retirement income as a priority?
Because unsuitable recommendations can cause significant and irreversible harm to the financial wellbeing of retired individuals.
Who wrote this analysis?
TCC’s Technical Director, David Boyhan, writing in Money Marketing.
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- Pensions & Retirement IncomeTCC helps pension providers, retirement specialists, advisers, platforms and consolidators strengthen retirement income governance, evidence customer outcomes and manage regulatory risk. Our specialists support firms with retirement income reviews, ongoing servicing assessments, Consumer Duty programmes, DB transfer reviews, vulnerability frameworks, remediation projects and compliance monitoring across the customer lifecycle.
- Wealth Management & Financial AdviceTCC helps wealth managers, financial advisers, networks, platforms and consolidators strengthen compliance, evidence customer outcomes and manage regulatory risk. Every engagement is designed to deliver practical improvements, stronger governance and regulator-ready evidence. For more than 25 years, we have helped FCA-regulated firms navigate regulatory change, supervisory reviews and business growth.