These changes have led some to say that Mifid II has made centralised investment propositions “unmanageable”.
Finally, for Ben Yearsley, investment consultant at Fairview Investing, change is needed on pension allowances.
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“Scrap the lifetime allowance and do something with the annual allowance, maybe in exchange for capping tax free cash at much lower level,” he said.
sally.hickey@ft.com, additional reporting by Ruby Hinchliffe
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