Advisers are central to overcoming this challenge and to accelerating the shift away from generic one-size-fits all products to the creation of bespoke solutions to serve individual customers. I have no doubt the annuity will remain an important part of the mix but with over 400,000 people a year hurtling towards a process that is suboptimal at best I just don’t believe it’s right for everyone.
In short, while the annuity may remain fit for purpose it simply isn’t fit for everyone’s purpose and those peddling them, particularly to the unknowing, should accept and acknowledge that.
Article continues after advert
David Ferguson is chief executive of Nucleus
Page 2 of 2
