“The retirement income market is a key area of our focus, particularly the suitability of both products and advice as the industry adapts to pension freedoms.” The FCA - Sector Views 2020

‘Pension Freedoms’ is the latest box set to be added to Money Alive’s client video engagement platform. It follows the launch of our Drawdown Review box set earlier this year and is ideal for advisers to share with clients ahead of giving them advice on their retirement options.

The ‘Sector Views’ referred to above followed hot on the heels of the FCA’s “Dear CEO” letters which arrived on adviser’s desks in January. In a nutshell they reflected the regulator’s real concern about the number of clients who have elected to take their income in retirement via drawdown, including a suspicion of adviser bias in the outcome (as advisers receive an income stream from the drawdown options versus a one off payment from annuity).

Using the box set is a straightforward way for advisers to address the FCA’s concerns over potential adviser bias in their retirement advice process. Money Alive’s video engagement platform makes facilitating and evidencing the provision of engaging and impartial information about all the freedoms options available simple and quick.

The box set opens with a brief summary of options followed by guides and case studies on drawdown, guaranteed income, lump sums, take it all, and leave it. Each option includes a case study (which have proved popular with clients on previous box sets) and there is also the option for clients to watch additional videos on the two key retirement options, drawdown and guaranteed income.

Win new business

The new Pension Freedoms box set is an excellent showcase for the value of financial advice and comes with a 1-minute trailer video for advisers who subscribe to our Team and Large Business packages to embed on their website and link to campaigns. It is also an excellent way for advisers to demonstrate to corporates and pension schemes they have the means to reach every member with engaging, impartial, PMI accredited education about their pension freedoms options.

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About Money Alive

Money Alive established its reputation helping advisers provide clients with generic, impartial and unbiased education regarding final salary transfers (recognised by the PFS in its Gold Standard Transfer Process). With ‘Pension Freedoms’ advisers now have the opportunity to take a similar approach with their retirement advice process - directly addressing these latest regulatory concerns about potential adviser bias.

Money Alive’s video engagement platform is licensed by advisers and, since launch in 2018, has been used by them to educate their clients with over 100,000 of Money Alive’s highly acclaimed videos. The box sets are interactive and each video produces a record of the client’s engagement and understanding for the adviser. This gives the platform powerful compliance and risk management benefits, as well as saving advisers a great deal of time.

In a recent survey of over 1,000 people who had viewed a Money Alive box set, 98.1% said they valued their adviser giving them access to Money Alive and 94.3% said they were better informed ahead of their advice meeting.