Savvy advisers should take advantage of clients with multiple pension schemes, according to financial services firm Metlife.
New research suggests more than half of all advisers have clients with a number of pensions, and that only one in ten clients has a single pension scheme.
Metlife says the number of clients with multiple pension schemes represents a major opportunity for IFAs.
Rosy Atal, head of communications at MetLife Europe, says: “The number of clients with multiple pension schemes demonstrates the need for expert advice on maximising retirement income.
“People moving jobs will typically accumulate a number of different pension schemes and these may be defined benefit or defined contribution. People in that situation would benefit from advice.
“No two clients are the same but it is clear from this research that many have multiple pensions and should be considering how best to plan for their retirement.”
The average number of pension schemes held by clients works out at 2.57 from the research, conducted by George Street Research, with 12% having just one pension and another 32% holding two schemes.
Around 42% of clients have three schemes while 11% claim to have four or more.
If you would like to comment on this story, contact:
020 7034 2636
Two-thirds cannot evidence compliance
'Elaborate breach of trust'
'How to buy protection insurance'
As this year has proved
European markets down after Brexit news