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

News editor's view: Let's give it up for the small advice firms

News editor's view: Let's give it up for the small advice firms

The news editor's Friday Night Takeaway from 22 May

Isabel Baxter
clock 22 May 2026 • 4 min read
Women more likely to seek professional financial advice – research

Women more likely to seek professional financial advice – research

Twenty percent of women likely to seek advice

Sophia Panayi
clock 22 May 2026 • 2 min read
The expectation gap: Why suitable advice can still fail the client

The expectation gap: Why suitable advice can still fail the client

'The industry is moving from suitability, to understanding and now to expectation management'

Elly Dowding and Lee Coates
clock 22 May 2026 • 4 min read