A new directory for consumers seeking help with retirement advice has today been opened up for Financial Planners and advisers to start registering.
Advisers can sign up to the Money Advice Service listings for retirement advisers from this morning, if they meet the specified criteria.
The aim is to make it easier for consumers to find a regulated financial adviser specialising in retirement planning.
It is designed to complement the Government's new service - Pension Wise.

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The criteria are as follows:

· Financial advisers on the directory must be active in the retirement planning market and have the ability to provide regulated financial advice for either 'at' or 'post' retirement planning. Advisers may concentrate on either or both markets, and will need to make the scope of their service clear in their directory entry.

· Financial advisers on the directory will offer, as their primary business model, financial advice, which includes a personal recommendation. This can be full, focused or simplified advice, but at all times will include a personal recommendation that complies with the FCA suitability rules set out in their Handbook in COBS 9. Advice must be covered by the Financial Ombudsman Service and the Financial Services Compensation Scheme.

· As well as firms classified as 'independent', firms with 'restricted' status due to the fact they have chosen to focus on a particular market (relevant to retirement planning) will be permitted entry to the directory. Firms with restricted status will be asked to confirm that their advisers will consider a wide range of providers within the market they have chosen to focus on.

Find the full details and register HERE.

Caroline Rookes, chief executive at the Money Advice Service, said: "The Money Advice Service's directory is open for business. As the Government's pension reforms are implemented, it is really important that consumers in every part of the country know where to turn to find a specialist retirement adviser who can help with their individual circumstances at a very crucial time in their lives.
"We hope that advisers who meet the entry criteria from right across the UK sign up to be listed on the directory - especially now that Pension Wise will be signposting consumers looking for regulated advice to the directory."
Craig Davidson, managing director at IFA firm Reckitt House, said: "Having seen the progress made so far, I think the Money Advice Service Directory could add real value for the consumer. The development of the directory, based on consumer testing and adviser feedback, is a positive contribution to the industry and I look forward to listing our firm at the earliest opportunity.
"As a result of the pension legislation changes giving consumers greater flexibility in taking retirement income, those people who have reached the 'at retirement' phase of their lives have a greater need than ever to seek guidance and advice."    

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