IFAs will be hit with a "tsunami" of requests for information about corporate pensions in the next four years, forcing them to deal with the sector, according to pensions expert Steve Bee.
Many advisers have said they have no plans to advise on the workplace savings segment of the market. However, Bee said IFAs will have clients who are employers who will turn to them for guidance about auto-enrolment when the date nears for smaller businesses to join the government-orchestrated scheme. "Even if IFAs don't want to talk about corporate pensions, their clients will want them to. A tsunami is about to hit." According to figures from The Pensions Regulator, seen by IFAonline, from winter 2013 to spring 2014, about 12,500 employers a month will reach their staging dates -...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
