Financial advisers need to take a closer look at the suitability of their investment approach for clients taking an income, according to platform Wealthtime.

Retirement specialist Just Group has partnered with private investment firm Sparrows Capital to launch a retirement income solution which the two companies say will help advisers with decumulation strategies.

Financial Planners and advisers need to improve their approach to retirement income suitability assessments by considering clients' financial personality, such as whether they are spenders or savers.

The number of newly-opened complaints about decumulation and pensions in the first half of 2023 was up 20% year on year, according to new data from the FCA.