Only 7% of retirement age clients say their financial adviser has introduced themselves to their adult children despite predictions of an estimated £1.2trillion in wealth transfer over the next 30 years.

New findings revealed a Pensions Freedoms ‘blind spot’ because 79% of clients had failed to set up a Lasting Power of Attorney.

Nearly one in three pension savers using drawdown to fund their retirement have no investment experience and two in five (41%) of these drawdown beginners have received no financial advice or guidance, according to new research.

Zurich has announced a platform price cut from January, reducing the platform fee by more than half for assets above £500,000 from 0.22% to 0.10%.