A major shake-up is about to hit the industry as the Treasury looks to review the financial advice market. Accessibility and affordability will be key considerations, in order to reduce the 'advice gap' which became apparent after the announcement of the pension reforms last year.
The reforms have sparked an increase in people actively seeking advice, with searches on our own site increasing by 20 per cent. With financial advisers benefiting the most from this trend. However, it's no wonder demand for advice is so high - our Value of Advice research revealed that by simply taking financial advice a saver can add on average an extra £48,279 to their pension pot. Examples like this are great to show first-time advice seekers to demonstrate the benefits of your service - take a look at other statistics you can share.
With the demand for advisers on our website on the up, we thought we'd find out how your potential clients would like to be introduced to the world of advice. Take a look at the highlights below:
Promoting special offers is a great way to optimize your profile, especially if you want to refresh your client list. This is just one of many benefits you get when you upgrade to our Enhanced package - speak to our customer service team to find out more*
In the world's current ranking of pension systems, the UK is placed in the top 10 - but only just. It seems we still have a lot to learn when it comes to perfecting our retirement wealth, could we possibly take note from other countries? Policy Manager Alistair McQueen takes a look at Australia's approach and highlights what we could learn in Pension freedom: lessons from down under.
Or how to respond to the cry, "I want my money!"
Obviously the availability of a cash lump sum to spend as they like is extremely attractive to the majority of pension clients. Some of them need it to pay off debt or finance specific purchases, and some just want it "because it's their money".
Either way, anything that stops clients accessing their money is seen as an unnecessary barrier and someone must be blamed.
Top of the list for taking the flack are pension providers, closely followed by "expensive" advisers. This article looks at the true barriers and the reasons behind them. Take a look at the new FCA guidance for advisers too. Read it all here.
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