Prudential Finds Advisers Saying Clients Retirement Planning Is
Not On Course
Released
on: June 11, 2009, 5:30 am
Author: Prudential
Industry: Financial
According
to the latest survey from Prudential, financial advisers are not
convinced that their clients' retirement planning is on course.
The
new Prudential survey found that over two-fifths of advisers (43
per cent) said they are either not that confident or not at all
confident, that their clients' retirement planning is on course,
compared to just a third (34 per cent) who said they are either
reasonably confident or very confident.
However
despite their doubts about how well their clients are prepared
for retirement, a third of advisers (33 per cent) actually reported
an increase in the number of enquiries from clients about pensions
and retirement
planning over the past three months. Additionally, half of
the advisers surveyed said they had seen an increase in the number
of clients using the open market option when shopping around for
their annuity
in the past three months.
Andy
Curran, Director of Intermediated Sales at Prudential, said: "Advisers
and providers have taken a fair amount of flak over the years
for apparently not informing people that they have the freedom
to shop around for the retirement products which best suit their
needs.
"It's
good to see that half of advisers say they've seen an increase
in the number of people using the open market option but it seems
to me that it's taken a financial crisis for people to start their
financial planning.
"What
is worrying is the feedback from advisers that their clients'
retirement planning is not on course, especially in these unprecedented
times when personal financial security should be top of the agenda
for everyone."
ENDS
The
information contained in Prudential UK's press releases is intended
solely for journalists and should not be used by consumers to
make financial decisions. Full consumer product information and
Prudential's award winning retirement
calculator can be found on the Prudential website.
Notes to editors
Prudential surveyed 123 independent financial advisers during
April 2008.
About
Prudential:
"Prudential" is a trading name of The Prudential Assurance
Company Limited and Prudential Unit Trusts Limited. This name
is also used by other companies within the Prudential Group, which
between them provide a range of financial products including life
assurance, pensions, savings and investment products. The Prudential
Assurance Company and Prudential Unit Trusts Limited are registered
in England and Wales under number 15454 and 1796126. Registered
Office at Laurence Pountney Hill, London EC4R 0HH. Authorised
and regulated by the Financial Services Authority.
Prudential
PR Contact:
Jonathan Akerman
Prudential
3 Sheldon Square
Westminster
London
W2 6PR
020 7150 3177
www.pru.co.uk
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