Part 1) Advice Principles - There is no doubt that retirement income has become a very hot topic recently. We have seen a huge amount of activity from the regulator. In this session we’ll be touching on many of the topical regulatory aspects including ‘Suitability2’ and the need for a consistent approach. We’ll be speaking to a number of experts on the key issues and what you can do to respond. But the message is loud and clear. As well as a good culture, firms need to show that there is a robust process in place for retirement advice. Ultimately, of course, the purpose is to introduce a process to produce good consumer outcomes.
Learning Objectives:
1. Discuss the main regulatory themes surrounding retirement income advice
2. Understand the duties on firms and individuals
3. Recognise the key risks to good outcomes for retiring clients
4. Understand the need for a consistent advice process for clients in decumulation
5. Recognise six key steps in designing a centralised retirement proposition