'Fudged' at-retirement advice threatens to destroy wealth, consultancy warns

Carmen Reichman
clock

The lack of advice tools to help create suitable options for clients in the de-cummulation phase is threatening to create problems and could "permanently destroy wealth", a consultancy has warned.

Moody's Analytics head of retail product and advisory Philip Mowbray (pictured) said that the advice industry was lacking the right tools for determining risk at the tail end stages of the investment process, such as in drawdown, and often "fudged" the process. This is a particular problem he said, as the risk for consumer detriment was higher at the final stages of an investment process than in the early stages, when advisers still had the opportunity to "fix things". The regulator has recently voiced concerns about risk-mapping practices at accummulation stages that allow advisers t...

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 Your profession

Reform for modern times: A fairer future for families

Reform for modern times: A fairer future for families

'Could reshape the legal and financial consequences of relationship breakdown'

Julia Peake
clock 17 June 2026 • 4 min read
Carla Brown: PFS will reassert itself as voice of the profession in 2026

Carla Brown: PFS will reassert itself as voice of the profession in 2026

PFS president and chair on building trust

Carla Brown
clock 16 June 2026 • 4 min read
Advisers need 'robust' scam protections as investment fraud losses hit £221m

Advisers need 'robust' scam protections as investment fraud losses hit £221m

Investment fraud up 40% year-on-year

Sophia Panayi
clock 15 June 2026 • 2 min read