This year has been a massive game changer in retirement planning. George Osborne's Budget unlocked a whole raft of flexibility that will affect how people view their retirement savings.
The changes bring both challenges and opportunities for the advisory community and I know many Retirement Planner readers are looking ahead to 2015 with renewed optimism.
Many clients no longer view retirement saving as dull and inflexible. They have real options now and advisers can further develop strong working relationships by navigating them through the different options.
But while 2015 brings its fair share of optimism, there are areas for concern too. While those lucky enough to have a financial adviser should, by and large, receive good quality advice, what about those who don't?
The guidance guarantee comes into force in April and its success is vital in ensuring those unable or unwilling to pay for financial advice receive information and support while making retirement decisions.
I do hope that the general public makes good use of this service. If not, we will continue to see people making poor decisions that will affect them for years to come.
It is also to be hoped that the time spent with the guidance guarantee personnel will also make many people realise the importance of getting more detailed assistance in the form of an adviser.
This coming year looks set to be one full of promise for the advisory community. I would like to thank all Retirement Planner readers for their support over the past 12 months and wish you a merry Christmas and a happy and prosperous New Year.
First mentioned in Cridland Report
Second acquisition of 2019
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.
Four key areas to focus on
And 94% for critical illness