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

Government again rejects Waspi compensation after review

Government again rejects Waspi compensation after review

DWP: Creation of compensation scheme would be ‘highly impractical’ and ‘time-consuming’

Martin Richmond
clock 29 January 2026 • 3 min read
Pension transfers and the FCA: A well-meaning intervention that risks falling short

Pension transfers and the FCA: A well-meaning intervention that risks falling short

'The secret is giving people the right information at the right time'

Rachel Vahey
clock 28 January 2026 • 4 min read
State pension deferrals: 42,000 who postponed took benefit in 2023/24

State pension deferrals: 42,000 who postponed took benefit in 2023/24

FoI request from provider Royal London

Jenna Brown
clock 28 January 2026 • 3 min read