View more on these topics

Half of advisers want more innovative solutions, says Lincoln Financial Group

A poll by Lincoln Financial Group shows 50 per cent of financial advisers want to see more innovative solutions launched into the retirement income market.

The research also claims that financial advisers with national firms are the most convinced of the need for innovation with 64 per cent saying increased innovation is needed to improve their business.

But Lincoln says advisers’ awareness of new products already launched in the retirement income market is limited. Around 19 per cent of advisers are unaware of any innovations and only 12 per cent were aware of innovations in SIPPs.

Awareness of other innovations such as drawdown products, wraps and changes to traditional annuities was in single figures, according to Lincoln.

Lincoln Retirement Income head of product and marketing Simon O’Connor says: “The retirement income market represents a huge opportunity for advisers as the increase in sales of pension products following A-Day in 2006 shows. The ABI reported a 45 per cent rise in individual pensions regular new premium business in 2006.

“However the industry needs to build on that success and offer more solutions which take advantage of the opportunities offered by A-Day and meet the demand from consumers. Products should focus on the pre-retirement, at-retirement and in-retirement markets.

“There has been innovation in the market over the past year but it is clear the industry needs to do more to communicate with advisers and help them to understand the products that are already available.”


Experts who helped draft RDR plans warn of perils

The FSA has come under attack from leading retail distribution review committee members, with True Potential’s David Harrison warning that it endangers the IFA channel when consumers need hundreds of thousands of new advisers.Two committee chairmen, Royal London chief executive Mike Yardley and Thinc Group’s Roderic Rennison, have warned that more incentives must be offered […]

Get into third gear

Douglas Grant, head of business, actuarial, at Aegon Scottish Equitable, details the attractions of a third way for funding retirement income

Colin Snowdon

On the crest of a Wave, having successfully steered his third lender start-up out of the docks, this captain of the mortgage industry is confident that he can chart the choppy waters ahead and ride out a possible credit storm. By Will Henley

Stakeholder provider calls for wider auto-enrolment

B&CE is lobbying the Department for Work and Pensions to widen the scope of auto-enrolment following the introduction of personal accounts in 2012 to ensure a level playing field for existing workplace schemes.The not-for-profit company, which runs the UK’s biggest stakeholder scheme, is also in talks with the Association of British Insurers to co-ordinate an […]

Guide cover resized

Guide: Johnson Fleming’s managed auto-enrolment service for SMEs

Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm