The Evolution of Member Options
The financial advice market
19 Dec 2019
A well-functioning financial advice market is key to members engaging in their choices and making quality retirement decisions.
Regardless of how active an approach you take to member options, at some point members are going to want to talk to someone they can trust about the choices they have. This is even more vital for transfer values, as members typically have to take financial advice before they can take their DB benefits as a transfer value. But with demand for member options at an all time high, is the financial advice market fit for purpose?
In this paper we explore the financial advice market in depth, providing a recap of the changes the market has seen to date, and our predictions for how it will evolve in future. We also provide some tips for Trustees to help ensure members have the support they need to make quality retirement choices.