IFAs demand retirement market innovation

A survey shows 50% of advisers want to see more innovation in the retirement income market. Almost 20% of IFAs do not know of any innovations and just 12% know of innovations in SIPPs. Almost 10% of IFAs want to see innovation in drawdown products, while 5% each would like to see innovation in traditional annuities and wraps. IFAs at national firms show the strongest desire for innovation. Almost 65% say they need increased innovation to improve their business, compared with 50% across the market as a whole. Simon O’Connor head of product and marketing at Lincoln Retirement Income, says...