The Retirement Partner

Let's go for it!

2010-05-15T02:14:00.000-07:00

The last couple of months has been very interesting and indeed busy - hence my silence, but now it's time to go for it. A number of different activities have been coming together over recent weeks to help us push forward in our campaign to help the consumer understand their pension options, and the adviser to properly understand the market place.

The market is now complex and there is a real need to help consumer and adviser alike.

We are really pleased to announce a couple of particular developments - Firstly that MGM Advantage are now fully on board as sponsors, and secondly that Mr John Lappin is now on board as Consulting Editor to The Retirement Partnership.

Over coming weeks I will keep you posted on our various work streams and how these may support the adviser and product provider. We will soon start a second blog as well for the consumer.

Please pass on the link to others - lets get engaged!
Steve

Retirement Income Risk

2010-01-18T04:36:00.000-08:00

Is it fair to say that the risk we are prepared to take on our savings, is probably different from the risk we are prepared to take on our retirement income?

We have recently been working with Living Time to prepare a new Attitude to Risk assessment for retirement income. I think this is a really good piece of work, and will challenge the thinking of many advisers.

I hope we can present this in a positive & constructive way to firms as the end result for clients must surely be a much better understanding of their options and how the different risks affecting retirement income can impact the decisions being made.

If you are interested in seeing this document please contact me - It will be posted on our web site very soon.

Wow what a market!

2009-12-15T13:14:00.000-08:00

We have just launched two key developments:

1. Our register of retirement advisers - this has been great. I issued this last night at 5pm and by lunch time today we had 80 adviser firms signed up. Great result and a boost to all in 2010.

2. Our market Place Matrix is now up and running - I am very pleased with this, although it will be a constant task to keep it updated. We are still writing and tweaking things every day and there is alot to do as providers come on line. This will be a great resource for advisers and complement our retirement Strategies magazine tables.

It's good to see work come to fruition, and i am looking forward to 2010.

Radio Blasting

2009-12-07T01:13:00.000-08:00

I had the good fortune to meet with four product providers last week. Each is aiming to launch a new product or initiative in the new year. I was struck by how much is going on, and once again by how difficult this is for the professional adviser to stay in touch with, let alone understand.

I have used the radio analogy alot over recent years, and here it comes again. As an adviser sometimes it is like someone has placed six radios on the table in front of you; tuned each to a different station; and set each to a different volume. You end up hearing the loudest, even though you may not want to listen, so that will get you annoyed. You may try and tune your hearing to one particular station, and that becomes frustrating. Then you may here a snippet that interests you from the quietest station, and wonder what that was all about!

I have a gut feeling that in 2010 many of the product providers will turn up the volume to near full blast. Do not fear though because we will be here to decipher the news and filter the statements to let you know how things are changing and what the adviser needs to address in their processes.

Information is king, but do we now have too much? There once was a time when only the way a provider could communicate was by post, or in person; then came the fax; the mobile phone; and the text; then the web site; the blog (ha ha); the social network; and the twit!

How can we break through this barrage of noise to find the news we really need to know?

Do not fear the answer is coming.... watch this space.

Spreading the news

2009-12-01T11:31:00.000-08:00

I am really quite enthused today by the opportunity of 2010. We have some great discussions today about our workshop & seminar plans for 2010, and the opportunity to spread the message out to more and more professional advisers across the country.

The challenge as always is to persuade the adviser, and indeed the para planners to come along for a half day session. We really want to support change and help advisers develop their new business model, so they can benefit from this market in the years to come. There is no point in being driven by the negative forces in our industry - like regulation - we must be about driving positive change; creating quality advice practices; and profitable businesses.

I am confident that we can deliver change for advisers and in our 2010 sessions we will be able to deliver the first steps for any firm looking to engage.

Also watch out for our new Market Place section on the web site www.retirement-partnership.co.uk - I am very pleased with the work.

And finally some good work today on our first training module on Scheme Pension - watch this space.

Small Beer

2009-12-01T00:06:00.000-08:00

The principle meet from yesterday discussed the issue with what we call 'small beer' cases. The issue for many people who retire with small pots of pension funds is finding some one who will take the time to explain, and research the options that may be available - without charging an horrendous fee.
In turn then for the financial adviser it is finding a way for the client to be given the level of guidance they need to choose the right option. We were trying to find a company that has got this right. We were also looking for a business that can provide this service to the IFA on an introduced basis. I can only think of one or two, and I am not sure they are at the right scale yet.
An interesting view to the future is whether or not annuity advice will be acceptable at the basic advice level proposed in the RDR? Any views welcome. In theory there may be a great opportunity here, or may be a great liability, wish is the real problem for the adviser. To cover all eventualities the adviser has to do so much paper work, and documentation now that it is only logical that they will not be able to deal with the small beer clients who really need their help.

Pensions are boring

2009-11-29T13:03:00.001-08:00

I have worked in the retirement industry for many years and have always said "pensions are boring". Indeed I have a very good friend who will always remind me about how boring pensions are, by dropping his head, often with some force, onto the table in front of him, as soon as I start talking about this great subject.

In response to my own beliefs therefore I have been looking for the best way to get across this important subject to folk without boring their pants off! Perhaps this is the right format to follow: bite size chunks that will build up over an extended period of time.

In turn I will, for my part try and keep things light hearted - may be even humorous. I am not going to try and give you a diary of my life, but will reflect on particulary interesting meetings I have, or events I observe.

I look forward to working with you.