FTFM Because of the cost, very few defined contribution scheme members receive one-to-one investment advice and look to the scheme trustees or their employer, in the case of contract-based DC , to direct them towards the most appropriate fund.
For regulatory reasons, trustees and employers provide generic advice only and are unable to give members a clear steer in case this is interpreted as individual advice and leaves them open to accusations of mis-selling if the fund does not perform as members expect.
