And business models are adapting too. As client behaviours change, so advisers are adapting their charging structures accordingly. Many now set up fee structures that provide for customers that set-up an advised drawdown plan but change their intentions of circumstances at a later date and need to re-visit the plan design in a different context.
As long as the financial planning profession continues to deliver a compelling value proposition and change with the times, it will remain as relevant as ever for clients planning their retirement.
Richard Bartlett is head of retirement at Intrinsic
| Key points |
Some have argued retirees cannot expect to afford professional financial advice at-retirement. The risks involved in retirement planning mean that many decisions are irreversible. Advisers are facilitating access to sophisticated planning strategies unlikely to be otherwise available. |
