Clients dipping further into pensions savings to help family members

Clients are also pulling money from investments and moving to cash

Isabel Baxter
clock • 1 min read

Advisers are seeing an increase in clients pulling money out from pensions or investments to help family members, research from Royal London shows.

The mutual found that 33% of advisers have seen this increase whilst 34% saw an increase in the level of drawdown withdrawals. It was also noted that 41% of advisers are having more conversations with clients about investments and the economic environment compared to two years ago at the start of the cost-of-living crisis in late 2021. The climate of rising interest rates, coupled with volatile market conditions over the last two years, saw 37% advisers note an increase in clients moving money to cash, Royal London also found. Pensions expert Clare Moffat said: "Unsurprisingly, 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 Your profession

CII: Vulnerable client management is 'an opportunity for growth'

CII: Vulnerable client management is 'an opportunity for growth'

Firms can expand potential client bases

Isabel Baxter
clock 07 April 2026 • 2 min read
Common language used by advisers triggers anxiety and distrust among retirees

Common language used by advisers triggers anxiety and distrust among retirees

Product-led communication one of the biggest drivers of mistrust

Laura Purkess
clock 01 April 2026 • 1 min read
Advisers: Are you even taking your own advice?

Advisers: Are you even taking your own advice?

Exploring the expenditure consolidation conversation

Nick Ryan
clock 25 March 2026 • 4 min read