The pensions industry is failing customers through both apathy and fear of change, and the window for action is closing fast, argues Jonathan Hawkins
Dinosaurs. Blockbuster Video. Nokia. Kodak. AOL. You? As a Saturday boy at WH Smith (known by the City as ‘WH Smug') in the 1990s, I recall watching the business turned upside down overnight by book market deregulation and the rise of the supermarkets. Complacency killed market dominance faster than anyone anticipated. Just like Blockbuster and Kodak, firms that ignore change, fail to evolve and neglect their customers go to the wall or get eaten by competitors. We're living through the rise of artificial intelligence (AI), yet much of pensions and financial services relies on out...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
