Retirement news
Retirement provision driving business for IFAs
7 February, 2007
Independent financial advisors (IFAs) are finding that retirement provision is making up an increasing large part of their overall business, according to new research from Rowanmore Pensions
Quoted by IFAonline, the survey reveals that since A-Day in April 2006, when the government introduced new rules relating to pension schemes, financial advisors have seen a substantial increase in the need for ongoing financial advice.
Indeed, over 90 per cent of those polled said their services were more in demand now than they were before reforms were brought in that were designed to simplify pensions and make them easier to understand but which many critics claim have only served to make things more complicated.
A separate poll by IFAonline shows that 40 per cent of independent financial advisors expect the next government to do a U-turn on pensions policy, further confusing matters for consumers looking to save for their twilight years.
As a result the need for advice on retirement provision is expected to increase even further, with 91 per cent of those IFAs polled by Rowanmore Pensions claiming that retirement provision for will be a key area of growth for them over the next five years.
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