Pensions specialist, Scottish Life, has issued a stark, if very logical warning over the mechanics of auto-enrolment to the pensions Personal Account scheme from 2012.
A quick survey of 277 IFAs estimates that up to 10,000,000 employees will not get anything other than generic advice before enrolling, with millions more potentially adrift looking for advice.
The survey revealed that on average IFAs thought they would be able to deal with 125 members.
With 20,000 IFAs in the UK set against a workforce of 29 million - with 10 million employees set to auto-enrol with generic advice - IFAs can only hope to serve 2.5 million.
Unless of course, the regulator sees fit to encourage training and careers in financial advice?
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