Financial Planner's Budget 2014 Panel: Mike Morrison, AJ Bell's head of platform marketing.
FP: How do you rate this budget for Financial Planners?
Mike Morrison: Excellent budget for financial planners - changes to tax allowances good, changes to ISAs positive.

FP: What are the positive elements for the FP community?
MM: Pensions bombshells - no need to buy an annuity, flexible drawdown MIR reduced to £12000pa - although why flexible drawdown will be needed is questionable.
Reduction on tax on death from 55% to marginal rates is good. The big one is the freedom from age 55 to take the whole fund with just the first 25% tax free is very radical will mean financial planners will need to plan sustainability of funds target date funds for investment strategies could be interesting. Underwritten annuities will be an investment choice.

FP: What are the negative elements?
MM: negative elements - some clients will undoubtedly run out of money
What about inheritances if individuals can spend all their pensions ?

FP: What did George Osborne miss? What should have been in that wasn't?
MM: Could have done something on LTA as putting more money in will be more important ?
Who will pay for the impartial advice on retirement?

FP: Give the Chancellor your marks out of 10 (1-poor 10-outstanding)
MM: 10 out of 10 for surprise factor!