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PMI welcomes Government’s ambition to improve financial guidance

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The Pensions Management Institute (PMI) has welcomed the UK Government’s initiative to rationalise and improve the channels through which financial guidance is to be given to the general public.

PMI President Kevin LeGrand (pictured) says: “The Freedom and Choice reforms have shown the need for more comprehensive guidance and information about decumulation options. These proposed reforms provide an opportunity to create information channels which are more closely aligned to the requirements of consumers concerning financial matters. 
 
“We hope in particular that these changes will lead to a solution to the problems caused by the artificial distinction between guidance and regulated advice, leading to a more practical system of help.
 
“Whatever form the new model takes, PMI members will continue to be in the vanguard of providing assistance in this area.”

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