UK platforms failing to provide income to retirees
‘Customers are being hampered by inflexible and infrequent payments and a lack of innovation’
‘Customers are being hampered by inflexible and infrequent payments and a lack of innovation’
The UK’s Financial Conduct Authority (FCA) is planning to introduce “investment pathways” for drawdown retirees, in a move to prevent them from making poor decisions and defaulting into cash.
Royal London Asset Management has stated investors should invest in accumulation share classes for retirement income as the desperate search for yield pushes investors unnecessarily up the risk spectrum.
Baillie Gifford is set to lose three of its senior partners in April next year, including its head of Japanese equities Sarah Whitley.
Life insurer Old Mutual International has launched a new offshore bond in the UK aimed at savers caught out by cuts to the pension allowances.
Fund manager Jim Stride has announced his retirement after more than 41 years in asset management and three decades at the helm of the Axa Distribution fund.
The wealth management M&A race is set to be ratcheted up a notch with more than a third of IFA owners planning to retire within 10 years.
Old Mutual Wealth has strengthened its retirement income capability with the launch of IncomeSelect.
Multi-asset funds are favoured by more than half of IFAs as the retirement income vehicle of choice, a survey by Barings Asset Management has revealed.
Data out from the Association of British Insurers and the Office for National Statistics in the past few days should have asset managers rubbing their hands with a mixture of excitement and trepidation.
Post April’s retirement reforms, BlackRock has said 83% of clients of its workplace pensions business have taken all of their savings in cash.
Financial advisers would prefer to find a successor that can take on their business when they retire, rather than pursue a sale, new research from Russell Investments suggests.