Three-quarters of advisers say retirement planning is top of their clients' financial concerns, according to the first Adviser Opportunity Survey from Prudential.
More than 800 advisers were polled during the survey.
For most advisers, retirement planning was top of clients’ most pressing financial concerns. Over three-quarters (77%) said this was what people were most worried about. Investments (59%) and inheritance tax planning (56%) were next on the list of concerns.
At the bottom of the agenda was generic saving and tax concerns, along with planning for children’s education.
Ali Crossley, director of Lifetime Mortgages at Prudential UK, said: “Retirement planning is clearly a core focus for advisers as people increasingly realise they cannot rely on the state alone to provide for them in old age. For many, this means building up a portfolio of savings, investments, and a pension – and for some, it also means planning how to use the equity in their property.
“Many advisers predict that the lifetime mortgage market will grow. We at the Pru support this prediction. We know that confidence among consumers is increasing, and now nine out of 10 advisers think that people will consider releasing equity to supplement their retirement income.
“We believe product innovation will drive business growth in the lifetime mortgage sector. Products with enhanced flexibility and lower overall costs – like our Property Value Release Plan – are already moving the market forwards.”
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