Embracing choice

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Kim Lerche-Thomsen discusses how processes need to change if advisers are to help clients make the most of their retirement options

Problem-solving is fundamental to running a business. What we sell needs to help our customers overcome issues, not to mention the personal satisfaction of solving problems – that is hugely motivating. The problem that still needs to be overcome is how to ensure increasing numbers of retirees make active choices from these options when, historically, the vast majority have moved straight into lifetime annuities without even exercising their right to shop around for the most generous rate. Clearly those with very small pension pots are not going to have access to the same range of choi...

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