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Drawdown IFAs go North

The Income Drawdown Advisory Bureau is opening its first regional office in Northern England.

The retirement specialist claims the move reflects the growing wealth in the North. The bureau measured the growing wealth partly by looking at the increase in sales of income drawdown policies, which are traditionally only undertaken by those with at least £200,000 in pension funds.

Sales in the North now account for a quarter of all drawdown policies written, with the average case size higher than in the South.

Manager Brian Stallwood will lead the operation for the northern region and intends to promote the need for retirees to shop around before buying an annuity, as well as advising on drawdown policies for the wealthy.

Stallwood says: “We feel there is a gap in the market for specialist annuity and income drawdown advice in Northern England. We aim to fill that gap and ensure clients across the UK get the best possible deal for their retirement.”

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