The Financial Conduct Authority’s (FCA) retirement income review has encouraged financial advice firms to use cashflow modelling, BNY Investments has found.
Its research - Retirement advice in the UK: time for change? which included views from 208 financial advisers - found that about 86% of advice firms use some form of cashflow modelling. Speaking to Professional Adviser, BNY Investments head of retirement Richard Parkin said the increased use of cashflow modelling among advice firms will be one the main outcomes from the FCA's retirement income review. "Cashflow planning is being used more extensively by advice firms," he said. "You have the FCA saying that cashflow planning is a good idea, so you are now seeing advisers respond to th...
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