Billy Burrows Interview: All change for annuities

How do you think the industry has evolved? It has moved on a long way since I’ve got involved. The main reason is there are more product providers coming in with alternative solutions. There’s been an increase in the number of annuity advisory firms and obviously the biggest change has been the unprecedented fall in annuity rates. For a lot of people, annuities have got to a stage where the rates are so low that they’ve only got a return of the original capital plus a small amount of interest. The dilemma for investors and advisers is to what extent are people willing to take extra...