In Focus: Retirement planning  

How to structure retirement in volatile markets

  • Explain how volatile markets are affecting retirement planning
  • Communicate how to plan around volatile markets
  • Describe how new solutions can help create retirement plans in volatile markets
CPD
Approx.30min

But 7IM’s Yeates says the industry has not kept up with what clients need. 

“Retirees need flexibility in the current landscape and that can only be achieved if advisers have that same level of flexibility in the products available,” he says.

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Brewin Dolphin’s Silvester agrees there has not been a great deal of innovation in the markets to help consumers with the challenges of coming up to retirement.

But he argues it has been difficult to innovate solutions since pensions freedoms came into force due to the flexibility that was introduced.

Reflecting on 7IM’s latest product, Silvester says: “As far as helping an adviser educate their customers, I think this is probably going to be the first in a number of similar innovations. 

“All good ideas generally tend to be copied and then moved on. I think 7IM have been extremely brave, and built something that really does help to meet a real gap in the marketplace.”

Others are hesitant as to whether more options are needed and whether providers should instead look to make their services more intuitive.

"We need to get to something where annuity and drawdown allocation works together," Ormston says. "At the moment, we're saying the best way to get value and then the highest return is by separating these two products out and every attempt to merge the two is coming at a cost.

"It's something that can be worked through and that needs to be worked through."

amy.austin@ft.com

CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. What is one of the main risks of volatile markets, according to Dominic James Murray?

  2. Volatile markets may require a reassessment of investment strategies, says James Murray. True or false?

  3. What is the biggest challenge for advisers, according to Matthew Yeates?

  4. Flexibility in retirement plans can help advisers navigate tough times. True or false?

  5. How can a bucket approach help in volatile times?

  6. The industry needs to come up with ways to separate annuities and drawdown, according to Mark Ormston. True or false?

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  • Explain how volatile markets are affecting retirement planning
  • Communicate how to plan around volatile markets
  • Describe how new solutions can help create retirement plans in volatile markets

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