Winterthur will launch a free online retirement planning tool in October. The provider tells IFAonline it will add Retirement Income Planning (RIP), for customers approaching retirement, to its Client Management platform.
Advisers will use RIP to create suggested asset allocations based on existing investments, psychometric tests and inflation rates. IFAs will link clients’ Winterthur assets directly into the site and manually enter externally held assets. RIP will update asset allocations quarterly.
David Thompson, managing director of Winterhur, says clients have different attitudes retirement than during the accumulation phase.
He says: “In retirement people don’t work, they have different expectations, a limited pot of money, different behavioural characteristics, they have more time on their hands and a different inflation rate.”
Last month Winterthur’s interim results showed the company’s individual pension sales grew 74% in the first half of the year. Individual pension sales reached £1.05bn, an increase on £603m in the same period last year.
Also last month the provider launched a Retail Distribution Review (RDR) help site for IFAs detailing updates, commentary and opinion.
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