Individuals now have greater flexibility when accessing their pension savings. As a result, retirees face more complex decisions – they need to decide how to fund their retirements, what level of income to draw and, where a pension remains invested, which investments to hold.
The FCA recognises advisers have a key role to play in helping customers make decisions for the decumulation phase of their lives. However, it is concerned that poor advice may have a particular detrimental impact on these customers. Indeed, a recent review highlighted a number of concerns – it found that not all firms have evolved their approaches and adapted to the post-pension landscape, for instance, or are taking account of the differing needs of their retired customers.
In this 45-minute webinar, our panel of experts will consider the FCA’s Thematic review of Retirement Income Advice market and what the implications are for advice firms. They will also discuss the income options on offer and whether new solutions should be considered.
What will be covered?
- Why the FCA is so focused on the role and delivery of retirement income advice
- The key risks to firms of providing retirement income advice to clients and the actions they should take
- Whether firms need to have a different advice proposition and charging structure for clients in the decumulation phase of their lives
- What constitutes a sustainable income and whether tools or models should be adopted to help ensure an income lasts as long as the client does
- Other regulatory initiatives that could impact the advice sector, such as the FCA consultation proposing that firms set aside capital for potential redress liabilities.
A certificate of attendance will be provided to attendees after the webinar. If you have any questions, please feel free to submit these when you register and we will look to answer them during the discussion.
Overview
