Wealth of experience
There is a great number of baby boomers approaching retirement who are yet to make their retirement decisions and so the general outlook for pensions/retirement business remains largely positive.
But companies across the market must continue to learn quickly from those initial experiences of the pension freedoms to better target future business opportunities.
The competition for business in this space and the challenging regulatory and economic backdrop means it will be a case of the survival of the fittest when it comes to identifying ‘winners’ in the pensions market in the next three to five years.
As this experience is gained and the post-freedoms world matures, the opportunities for advisory businesses and the providers that enable them through appropriate propositions, structures and administration will change and develop.
At the very least these growing opportunities will draw on a greater need and appreciation of tax planning, including inheritance considerations and the sequencing of income, capital and asset use, including pensions savings.
The expertise, flexibility and structures available in the international investment and planning market will necessarily be an important part of this for those segments of the market now benefiting from these pensions freedoms.
