But Prudential has already stated the current boundaries between guidance and advice were too restrictive.
In its response to the Work & Pensions' select committee's enquiry on pension freedoms in November the insurer called for a new form of guidance, which would allow insurers to give recommendations to their clients to ensure people who need help with their retirement planning are not missing out.
The committee itself stated in its report out in April that it wanted to see a new form of standardised drawdown to protect pension savers instead and for providers to be forced to offer the product.
Alistair Cunningham, financial planning director at Wingate Financial Planning, said: "Provider-led advice has historically not ended well.
"If the intention to provide a 'financial home' is to push more product, then this is unlikely to lead to good outcomes for the clients, and by extension, the providers."
carmen.reichman@ft.com
