New MAS retirement adviser directory backed

A retirement planning firm has welcomed The Money Advice Service's move to create a new directory for the general public to find regulated advisers. MAS said a high quality specialist adviser was even more important after the radical pensions reforms this year.LV= Retirement Solutions has backed the idea today.Advisers would not have to pay to be in the unbiased and non-commercial directory.MAS has proposed it would include professionals who specialise in retirement advice and would list only those advisers who offer a service to all individuals irrespective of the size of their pension pots.The directory would also allow consumers to search for an adviser by postcode, and compare the costs, specialisms, and qualifications of advisers to help them make a more informed decision.{desktop}{/desktop}{mobile}{/mobile}John Perks, managing director of LV= Retirement Solutions said: "Changes to the Budget mean that retirees will soon have even more choice as to how they use their pension savings and we welcome any initiative that makes it easier for those approaching retirement to access a regulated adviser."This is particularly important given the Government's proposed guidance guarantee."Whilst guidance may be sufficient for individuals with pension funds up to a certain value, in many circumstances regulated advice will prove to be more beneficial and lead to better outcomes."We believe it is crucial that any guidance signposts retirees towards regulated advice, where appropriate, and we remain committed to lobbying to this end."Caroline Rookes, chief executive at the Money Advice Service, said:"The directory we are proposing today will help people find the adviser that is right for their needs."It will also make it much easier for people to move from the free and impartial guidance we provide to help people understand their options at retirement, to specialist advice on what product to choose."The consultation paper for a retirement directory can be found on the Money Advice Service website. It closes at 5pm on Friday 11 July 2014.

New MAS retirement adviser directory backed

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