What will the future hold for the advice sector in 2020?
By Robbie Lawther, 8 Jan 20
Dynamic Planner CEO shares what he believes will be the most transformative issues facing the industry
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Risk based cashflow planning comes to the fore
Cashflow planning has become a commonly used retirement strategy due to the introduction of pension freedoms.
Goss thinks that 2020 will be the year for this model.
“According to the Office for National Statistics, the number of people aged over 45 in 2020 is expected to grow by 258,000,” said Goss.
“While this is slightly lower than previous years the total numbers in this group will swell to almost 30 million.
“At the same time, the number of people in defined benefit pensions will continue to fall.
“It’s currently around one million in the private sector, down from two and a half million a decade ago.
“As potential clients start to get serious about accumulating wealth and ultimately planning their retirement with assets which require taking investment risk; the demand for cashflow planning, based on an objective assessment of risk, will grow.”
Tags: Dynamic Planner
