Last year brought several challenges faced by later life planners into sharp focus. The pandemic made us far more aware of our mortality and the importance of planning ahead.

The next 12 months should herald an opportunity for wealth managers to scrutinise the later life services they offer to see if they really deliver on the outcomes and needs that their clients are after in the light of the future issues they may face.

If there was ever a reason to adapt to changes in the external environment it would be now, before risking losing touch with those who do. 2021 should be seen as a great opportunity.

Only by considering any changes to the legislative landscape, delivering consistent and attractive risk-adjusted returns and considering any future needs and costs of our clients, can we deliver a truly robust and value-adding financial later life plan for investors who need it.

Matt Dickens is a senior business development director at Ingenious