Annuities and Drawdown are exciting and growing markets, worth £12bn to IFAs, according to The Income Drawdown Advisory Bureau director Robert Lymburn.
In a speech to The Insurance Institute of London last week, he says it is a market which is becoming more specialised and dividing into three distinct segments.
At the bottom of the market there is still a need for guaranteed low cost rate annuities.
In the middle there is an increased demand for investment linked annuities and at the top-end of the market there are still 25 per cent of the total market which will continue to opt for Phased and Income Drawdown.
Lymburn. says: “The size of this market is really exciting because, as an IFA if you only get a small share of such a huge market you should be doing exceptionally well.”