BNY Mellon’s Parkin: The changing nature of retirement advice
Richard Parkin, head of retirement at BNY Mellon IM, outlines how client relationships have evolved
ANNOUNCEMENT: UK Adviser is now PA Adviser. Read more.
Richard Parkin, head of retirement at BNY Mellon IM, outlines how client relationships have evolved
Gap between the largest platforms and their smaller rivals is growing
BNY Mellon’s Richard Parkin breaks down the FCA’s recent thematic review of retirement advice
Thematic review finds areas for improvement in how firms provide advice
There is plenty of room for improvement, and also a need for a high level of innovation in the market, argues Robin Powell
‘Strategic partnership’ formed to create the new offering
71% of 200 advisers interviewed pointed to this as a major issue
BNY Mellon’s Richard Parkin sets out his wishes for some clear guidance from the regulator
Only 18% said they regularly review their funds
Researchers gathered responses from 200 financial advisers
Outflows increased by 36.3% compared to 2022
With the pandemic fueling greater insecurity