There has been an increase in the proportion of advisers who say that clients are completely withdrawing retirement savings over a short timeframe, Aegon and NextWealth have found.
The 2024 Managing Lifetime Wealth report revealed that 24% of financial advisers said that some (22%) or the majority (2%) of clients completely withdrew savings over a short-time frame, compared to 15% in 2023 and 8% in 2020. The report also showed that financial advisers with average client portfolio values of less than £100,000 were more likely to say that they have had clients withdraw their retirement savings over a short timeframe. Aegon and NextWealth said this is it is a trend they will watch closely in future reports. In July 2023, Chetwood Financial found that a "concerni...
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