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Pension advice will always be needed

Whether there are 40 providers or four, the public will need advice on pensions.

The shape of the retail market may be emerging, as Money Marketing this week reveals the stakeholder front-runners.

The need for deep pockets has been underlined by the bear market and can only accelerate consolidation. It may boil down to who can afford to write loss-making business in the short term although perhaps this was always the case with stakeholder.

But the pension landscape will remain hazardous, regardless of how many or few providers are available. A shake-out may serve to remind IFAs of the real reason why their advice is so essential.

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