Adviser 'flak' misplaced as OMO use soars

clock

Advisers say the number of clients using the open market option (OMO) is increasing.

According to an IFA report from Prudential, half of those surveyed said they have seen an upturn in the past three months. Andy Curran, director of intermediated sales at Prudential, says advisers and providers have taken a "fair amount of flak" over the years for "apparently not informing people they have the freedom to shop around" for retirement products which best suit their needs. "It's good to see half of advisers say they've seen an increase in the number of people using the open market option, but it seems to me it has taken a financial crisis for people to start their financi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Tyndall Partnerships head Sullivan on bespoke empowerment

Tyndall Partnerships head Sullivan on bespoke empowerment

‘No two IFAs invest in the same suite of models’

Isabel Baxter
clock 09 December 2024 • 4 min read
Smoothed funds set to be a 'bigger asset class for the advice market'

Smoothed funds set to be a 'bigger asset class for the advice market'

‘An attractive low-risk solution for retirees’

Isabel Baxter
clock 25 November 2024 • 3 min read
Advisers no longer see inflation as a major concern

Advisers no longer see inflation as a major concern

Funds offering a level of inflation protection were the last research, Square Mile finds

Isabel Baxter
clock 22 October 2024 • 4 min read