LV= vows to tackle retirement advice for the masses; launches 'alternative to annuities' product

Carmen Reichman
clock • 2 min read

Provider LV= has called for the introduction of new retirement solutions which could see providers and advisers split the risks inherent in providing income drawdown to the masses.

LV= head of distribution Steve Lewis said advisers and providers need to come together to ensure consumers are guided through retirement if they opt for income drawdown. He suggested new solutions could see providers take on a monitoring role for clients who receive advice initially but don't pay for ongoing advice. Clients could access further advice on an adhoc basis if required and they would pay for it separately, he said. LV='s calls came in the wake of a radical reform of the retirement income market, which, LV= claimed, have seen sales of lifetime annuities drop by around 50...

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

Sector divided on Reeves' pullback on Cash ISA reform

Sector divided on Reeves' pullback on Cash ISA reform

‘A big win for defenders of a broken system’

Sorin Dojan
clock 11 July 2025 • 2 min read
FCA flags progress on internal DEI targets and urges action on Consumer Duty

FCA flags progress on internal DEI targets and urges action on Consumer Duty

According to the FCA report 2024-2025

Sahar Nazir
clock 11 July 2025 • 2 min read
FCA reviewing client categorisation rules to distinguish retail investors from the pack

FCA reviewing client categorisation rules to distinguish retail investors from the pack

Goal of 40 more initiatives to be completed by year end

Eve Maddock-Jones
clock 10 July 2025 • 2 min read