Retirement advice demand driven by market volatility

Cost of living crisis and market volatility fuelled demand for advice

Jasmine Urquhart
clock • 3 min read

The cost of living crisis and market volatility is behind an increase in demand for retirement advice, Aegon has found.

The firm's fifth Managing Lifetime Wealth report - in collaboration with NextWealth - found retirement advice accounted for 58% of advised assets in 2023, up from 55% last year. The research looked at data from 221 financial planners, 209 consumers, and 20 interviews in November and December 2022. Advisers said they expected the share of their retirement advice assets to rise to 62% over the next three years. The report also found the majority (57%) of advisers thought the current economic environment would increase demand further. Furthermore, 75% said the economic situation over the...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

L&G becomes first pension provider to complete dashboards ecosystem connection

L&G becomes first pension provider to complete dashboards ecosystem connection

Provider finalised its connection to the ecosystem today

Holly Roach
clock 17 April 2025 • 1 min read
How public sector pensions impact divorce proceedings

How public sector pensions impact divorce proceedings

'The ripple effects of the McCloud Remedy continue to be felt in divorce proceedings'

Vanessa Gardiner
clock 15 April 2025 • 5 min read
Pension freedoms and lessons from Down Under

Pension freedoms and lessons from Down Under

How the UK can build a more 'robust and supportive' system

Verona Kenny
clock 09 April 2025 • 4 min read