'Retirement income advice is the biggest problem in the adviser market' - Rory Percival

As important as DB transfers

clock • 6 min read

Managing retirement income for clients will soon be as big an issue as defined benefit (DB) transfers for advisers, former Financial Conduct Authority (FCA) man and compliance expert Rory Percival has said.

Speaking on a Money Alive webinar this week, Percival said advisers will need to overhaul their approaches to managing retirement income following the FCA's recent guidance on the issue. "Centralised retirement propositions (CRP) and advice about retirement income is the biggest problem in the market at the moment," he said. Percival argued firms were not doing enough to manage their biases around retirement income, which was flagged as a priority by the FCA in its 'Dear CEO' letter in January this year. "The FCA is now focusing on how you structure and run your firm and within tha...

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

Government's FOS reforms 'a mixed bag'

Government's FOS reforms 'a mixed bag'

Some changes appear to be ‘lacking in any substance,’ commentators say

Isabel Baxter
clock 16 July 2025 • 4 min read
PA360 North: First speakers revealed!

PA360 North: First speakers revealed!

Event returns to Warrington later this year

Professional Adviser
clock 16 July 2025 • 1 min read
FCA fines Barclays £42m over anti-money laundering failings linked to WealthTek

FCA fines Barclays £42m over anti-money laundering failings linked to WealthTek

Bank accused of missing basic due diligence checks as £34m was deposited into WealthTek client account

Sahar Nazir
clock 16 July 2025 • 2 min read