A third of advisers not taking responsibility for defaults

Over two-thirds of IFAs, 67 per cent, believe they should be primarily responsible for the selection of a default fund for their clients’ pension
schemes, according to Aegon’s latest IFA Insights survey. That compares to the 17 per cent who think the provider responsible and 14 per cent
who think it is down to the employer. Neil Davies, head of corporate marketing at Aegon says: “It is not surprising that nearly 7 out of 10 advisers thought that they should be primarily responsible for selecting a default fund, though it is surprising that this number is so low.”