Advisers are increasingly embracing models in their approach to drawdown.
Aegon research suggests that IFAs are embracing models rather than the four per cent rule in drawdown plans.
It found that out of 212 advisers, 38 per cent now use modelling tools to find a ‘safe’ level of drawdown for their clients, an increase from 28 per cent in 2020.
By contrast, the use of fixed rates or range methods has fallen from 41 per cent to 37 per cent in the past year.
Adviser firm Flying Colours Life has been ordered to pay compensation after the FOS found it gave a client unsuitable advice to transfer into a Sipp from the British Steel Pension Scheme.
The client’s objectives could have been met by choosing to enter the restructured BSPS scheme, ‘BSPS2,’ the FOS said, as New Model Adviser reports.
DFM consolidator Titan Wealth has acquired Tavistock Investments’ multi-asset manager business Tavistock Wealth in a deal potentially worth up to £40m.
More than a quarter of advisers (26 per cent) are struggling to come up with a profitable service model for their younger clients, a survey by PortfolioMetrix has found.
The UK economy grew by 2.3% in April according to the Office for National Statistics.
More than six out of 10 people diagnosed with Covid-19 go on to experience long Covid symptoms, according to research from Canada Life as Corporate Adviser reports.
However the insurer found that the majority (93 per cent) of those experiencing these longer-term health problems have received support for this from their employer as they returned to work.