Industry figures meet to discuss the challenges of at-retirement planning
Last updated 7th February 2011 - On 26th January advisers, product providers, risk modelling experts and industry commentators gathered in London to discuss ways in which the industry might gear up to meet the needs of the increasingly complex retirement market.
On 26th January advisers, product providers, risk modelling experts and industry commentators gathered to discuss ways in which the industry might gear up to meet the needs of the increasingly complex retirement market. In particular, the briefing event looked to promote greater understanding of the needs of retirement customers, and to discuss a new risk management approach to building retirement solutions.
While the importance of understanding and communicating options to retirement clients at the right time was a key theme, the briefing also looked at the thorny issue of what investment strategies might be adopted to reduce the risk of retirement savings running out and not meeting the income or bequest objectives of the client. Here, participants expressed interest in the ways in which the industry might help advisers to better identify and understand the risk in the investment portfolios they recommend.
With a large number of drawdown investors approaching a five-year review and the annuitization rules being relaxed, there was broad agreement on the need for better information to support advice for customers whose income levels may be reduced due to poorer than expected investment returns.
Other topics discussed included the type of support that product and platform providers might provide to advisers in order to help them deal with the complexities of retirement planning products; and whether professional financial planning qualifications should include a greater focus on risk management and cashflow planning.
Among the speakers were: Philip Mowbray, Head of Product Risk at Barrie & Hibbert; and Billy Burrows of William Burrows Annuities. Gavin Lumsden, Editor-in-Chief at Citywire chaired the event.
If you would like to attend a future event in this area or would like further information, please contact marketing@barrhibb.com.
