In a technical and theoretical speech Martin Lines, head of business development at Just, outlined the stages involved in central retirement propositions.
The session, which began with an apt literary reference to Shakespeare’s ‘King Lear’, was billed as: “When it comes to retirement planning, many firms are putting in place a centralised retirement proposition.
“Clearly, there are new opportunities and risks to consider aside from the investment journey itself.
“This session highlights some of the planning stages you can put into place to cover all the bases.”
The far-reaching speech touched on a number of facets of the retirement journey.
On fintech and roboadvice, Mr Lines said: “I think there are some things we can learn from AI and roboadvisers.”
But he added: “We also know that people want face-to-face engagement, they want to speak to a person.”
He emphasised the importance of a “consistency of approach” in retirement planning.
“Is the customer experience based on the same choice architecture?” he asked.
Mr Lines also spoke about the considerations that should be made regarding capacity for loss, risks, cashflow modelling and consumer vulnerability.
He revealed Just had released a new training module on the latter point ahead of expected new FCA guidance.
Mr Lines said a wholistic approach was necessary and stated: “Financial Planning and life planning are intrinsically linked.”
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