Advisers need to ensure they are considering a wide breath of issues for clients entering retirement to determine potential vulnerabilities to the levels the Financial Conduct Authority (FCA) is expecting, says Just Group.
Speaking at PA360 yesterday (25 April), development and events director Martin Lines pointed to the focus on vulnerability characteristics in both the FCA's guidance on retirement income advice as well as its Consumer Duty regulations. "It's not just about how the investment or the plan is doing," he told adviser delegates. "It is about how is the client doing and about understanding that within the characteristics of the market." Lines said advisers needed to be considering longevity risk, market and sequencing risk, inflation, changing circumstances, risk and ruin, emotional risk, a...
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