Royal London on MM awards, FAMR and where the Lifetime Isa falls short

In this video interview, Royal London sets out why it is backing the Money Marketing Awards, its position on the Financial Advice Market Review and its concerns about how the Lifetime Isa interacts with auto-enrolment.

Chief executive of Royal London intermediary Isobel Langton welcomes the commitment from policymakers to make advice both more affordable and ensure greater access to advice, but says she is disappointed that FAMR lacked references to impartial advice.

On the Lifetime Isa, she says while the latest initiative from Chancellor George Osborne may go some way to boosting pension saving among the self-employed, it could also derail the success of auto-enrolment seen to date.

Langton considers whether the Lifetime Isa creates a “habit” for consumers to either delay or opt out of pension saving altogether.

She also refuses to accept defeat on closing the protection gap, and sets out what providers and the wider industry should do to tackle the issue.