A change in the way financial advisers think about risk can lead to better outcomes for those in or approaching retirement, according to fund data provider FE Investments.

More than half of financial advisers reckon the FCA’s thematic review of retirement income advice should recommend a different investment approach for clients in decumulation compared to those in accumulation.

Copia Capital Management has launched five risk-rated portfolios to address decumulation risks and help advisers meet the new Consumer Duty rule to, “avoid causing foreseeable harm.”

Four in ten decumulation products bought in 2021 were purchased without professional advice, according to product sales data from the Financial Conduct Authority.