Treasury proposals for changing the definition of financial advice fail to distinguish it from ‘guidance’, a pensions firm MD says.

Research into the investment buying decisions of UK millenials (those aged 18-35) has found that while many prefer to make their own decisions, 44% would consult a financial adviser - similar to their parents’ generation.

Platform and Sipp operator AJ Bell is warning that the distinction between financial advice and other information or guidance services has become blurred and this is having two dangerous consequences.

David Cameron has pledged to put pensions expert Dr Ros Altmann at the heart of the next Government if the Conservatives win power.