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

Asset management M&A activity fails to deliver 'meaningful profitability improvements'

Asset management M&A activity fails to deliver 'meaningful profitability improvements'

M&A strategy not necessarily a winner

clock 06 May 2025 • 1 min read
Scottish tech firm takes control of Marlborough's IFA platform to drive 'next-gen wealth infrastructure'

Scottish tech firm takes control of Marlborough's IFA platform to drive 'next-gen wealth infrastructure'

The Marlborough Select Platform caters to advisers and their clients

Sahar Nazir
clock 06 May 2025 • 1 min read
Origo rolls out whole-of-market ULoA to 'streamline' advisers' LoA requests

Origo rolls out whole-of-market ULoA to 'streamline' advisers' LoA requests

Developed following industry feedback

Isabel Baxter
clock 06 May 2025 • 2 min read