How it Works
Helping to support the evolution of your business model
We are aware that many intermediaries are currently considering the best business model for them. In building the Retirement Account, we wanted to create a service that would support both existing and evolving business models. Here are some of the issues that you may be facing, and how we can help you.
| Issues faced by intermediaries | How the Retirement Account can help |
|---|---|
A-Day created new opportunities for customers. However, unlocking these opportunities requires more complex advice and that advice will be required more frequently. |
The Retirement Account allows customers to pay you for that advice in a tax efficient manner. |
Many intermediaries are considering their operating models. Fee based advice becoming more widespread. However, as a business an intermediary must consider cash flow in the short to medium term. |
The adviser payment options offered within the Retirement Account allow you to combine up front payments and fund based renewal commissions, tailored to the needs of your business. |
A-Day introduced greater investment freedom. Some intermediaries will adopt a business model which provides customers with investment advice. For others, the costs, complexity and risks of providing investment advice will be off-putting. |
Scottish Widows range of Pension Funds, the Fund Supermarket, and other asset classes offered within the Retirement Account aim to complement the provision of active advice. |
SIPP products offer customers access to additional investment flexibility. However, there can be an understandable nervousness around advising customers to move out of simpler, more transparently charged products, into complex SIPPs. |
The Retirement Account offers a range of investment options from conventional insured funds to more sophisticated self-invest options. Our unbundled approach to charging aims to make the cost of the product and the options selected by your client transparent. |
| Some intermediaries require the facility of Retirement Income (Income Drawdown). | The Retirement Account now offers Retirement Income |
The Control Account
