Most advisers now operate with a Centralised Investment Proposition (CIP), but not all have a Centralised Retirement Proposition (CRP) in place.
Yet clients’ requirements in retirement are very different to those in the accumulation phase. A number of new risks apply and clients need to balance their income requirements with the need to preserve capital over an unpredictable length of time, during a period where state of health and requirements for income may change substantially.
Both adviser and client may also need to consider the prospective costs of care and should take account of all sources of capital and income including their home.
It’s unlikely then to say the least, that an adviser’s CIP can be simply repurposed as a CRP.
This CRP Zone is designed to offer advisers a one stop area to access provider resources.
It looks at the five key financial risks faced by people in retirement, six elements of an effective CRP and explores whether combining different solutions can lead to better client outcomes.
We hope you find it of value in your practice.