2 min read 29 Jul 21
Financial planning in retirement has become a key capability for many advice firms as more and more clients seek guidance on how to make the years after they stop, or reduce work comfortable and financially secure. Every client’s retirement needs are unique to them. But as retirees account for a growing proportion of clients – and challenges such as low interest rates and longer life expectancy persist – many firms have discovered the benefits of standardising and centralising all or some elements of their retirement advice process.
The feedback since launching our research on CRPs, at the start of this year, was a need for more information on best practice.
In this short guide, we aim to show how advisory firms are creating CRPs that can help them deliver efficiencies and reliable, repeatable advice processes, while still retaining the flexibility to advise clients individually. We’ve partnered with NextWealth to interview outsourced paraplanning firms to gather real-life insight and examples. As well as having helped many advice firms create and run their own CRPs – they all have working knowledge of best practice across the advice sector.
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The information contained in this page is for professional Financial Adviser use only. If you are a private investor, please visit the Private Investor section or contact your Financial Adviser for more information.
Our research on centralised retirement propositions showed that - when it comes to planning in retirement - firms are increasingly interested in adopting a centrally agreed approach to cashflow modelling, determining income withdrawals and assessing client risk tolerance.