Advisers urged to use different approaches for spenders and savers

A new report by NextWealth and Just Group showed that while advisers' risk-profiling and risk-management processes in the accumulation phase of life are generally robust, many firms are using the same processes when advising clients in the decumulation phase when they may face different and more complex risks. "Advice ecosystems developed to manage risks to capital growth are not suitable at the point the primary risk becomes the sustainability of income," Just Group retirement income director Kavi Myladoor said. Myadoor added that the research suggests many retiring clients are "shoe...