Adviser retirement advice to focus on drawdown next year - Curtis Banks

Advisers look to secondary drawdown

clock • 2 min read

Advice in the retirement sector will largely come from the existing drawdown market in 2020, as advisers step away from defined benefit (DB) and defined contribution (DC) markets, self-invested personal pension (SIPP) provider Curtis Banks has forecast.

High professional indemnity premiums and risk of future litigation has seen many advisers move away from defined benefit (DB) transfers, which has caused a natural progression to the defined contribution market, Curtis Banks said. Meanwhile the introduction of pension freedoms in 2015 led to a boost in the income drawdown market and rapid growth in products available for advisers - but many of these original products are no longer suitable for clients, the SIPP operator added. Curtis Banks group sales director Dave Stratton said the advice sector was rapidly changing and "where two or...

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

Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Aimed at women at different stages of life and careers

Professional Adviser
clock 16 July 2026 • 3 min read
Women in Financial Advice Awards 2026: Shortlists revealed!

Women in Financial Advice Awards 2026: Shortlists revealed!

All the winners will be announced at a celebratory gala dinner on 4 November

Professional Adviser
clock 15 July 2026 • 10 min read
The human question: How PE-backed firms can retain their talent

The human question: How PE-backed firms can retain their talent

'In a people business, cultural integration is key to preserving client trust, adviser continuity and value'

Andrew Houghton
clock 15 July 2026 • 4 min read