Retirement advice demand driven by market volatility

Cost of living crisis and market volatility fuelled demand for advice

Jasmine Urquhart
clock • 3 min read

The cost of living crisis and market volatility is behind an increase in demand for retirement advice, Aegon has found.

The firm's fifth Managing Lifetime Wealth report - in collaboration with NextWealth - found retirement advice accounted for 58% of advised assets in 2023, up from 55% last year. The research looked at data from 221 financial planners, 209 consumers, and 20 interviews in November and December 2022. Advisers said they expected the share of their retirement advice assets to rise to 62% over the next three years. The report also found the majority (57%) of advisers thought the current economic environment would increase demand further. Furthermore, 75% said the economic situation over the...

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 Pensions

Sipps: How clients can avoid common retirement planning mistakes

Sipps: How clients can avoid common retirement planning mistakes

'Retirement planning stands as a cornerstone of long-term financial well-being'

James Floyd
clock 28 April 2025 • 4 min read
Origo completes pensions dashboard connection

Origo completes pensions dashboard connection

Completed connection ahead of this week’s first deadline

Holly Roach
clock 28 April 2025 • 2 min read
HMRC repays £44m in overpaid pensions tax during Q1 2025

HMRC repays £44m in overpaid pensions tax during Q1 2025

More than £1.4bn in overpaid pensions tax recouped since 2015

Martin Richmond
clock 28 April 2025 • 3 min read