"It’s been said many times before and I’m sure it will be again, but ever since Chancellor Osborne’s famous budget of 2014, the retirement market has changed significantly. Even the industry term for the market has changed from ‘At Retirement’ to ‘Retirement Income’, reflecting the shift from what was a one purchase journey for the majority to a much broader opportunity to get the right solution with the assets they have.
Tim Orton: Exploring Retirement Outcomes
It’s been said many times before and I’m sure it will be again, but ever since Chancellor Osborne’s famous budget of 2014, the retirement market has changed significantly. Even the industry term for the market has changed from ‘At Retirement’ to ‘Retirement Income’, reflecting the shift from what was a one purchase journey for the majority to a much broader opportunity to get the right solution with the assets they have.
All this change has led to additional complexity for advisers, as well as the challenge for providers to come up with new, innovative products to meet customer demands. In the quest for innovation, we’ve seen a myriad of new products launched by different providers, all hoping to find that silver bullet solution.
But is this a naïve view? Customer needs are increasingly complex and unique, so why should we expect there to be a single product that fits for everyone? That’s why we wanted to explore the options available, and what is missing, more deeply.
So we asked Moody’s Analytics to conduct some detailed research on how the different retirement products in the market actually perform. We’ve taken the results of their research and brought it together for you, along with expert views and opinion from the industry, to create our latest adviser paper ‘Exploring Retirement Outcomes’.
You can download the Whitepaper here
Our Retirement Forecaster will help you demonstrate a range of retirement income options for your clients and you’ll be able to produce a client report for your records and as part of your meeting to explain their options to them.
I hope you enjoy the paper and it gives you plenty to think about when working with complex clients.
Please do contact your Aviva Consultant or my team to let us know your thoughts.
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