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

 Why ongoing advice matters when client confidence is low

Why ongoing advice matters when client confidence is low

'What clients value most from advisers is clear priorities, reassurance and practical help'

Sophie Hall
clock 19 May 2026 • 3 min read
Simplybiz academy to 'level the playing field' for smaller firms

Simplybiz academy to 'level the playing field' for smaller firms

Academy launched to help smaller firms grow organically

Sophia Panayi
clock 19 May 2026 • 4 min read
FSCS forecasts levy drop to £247m in 2026/27

FSCS forecasts levy drop to £247m in 2026/27

Compensation payments of £267m anticipated

Sophia Panayi
clock 18 May 2026 • 2 min read