Defaqto has released an updated version of its annual guide to pensions drawdown to help advisers direct clients through the retirement investment process.
The updated guide, which was released in conjunction with Prudential, contains 60 minutes of CPD-accredited content, as well as data to help advisers direct their clients through the drawdown process.
According to Defaqto, the updated 2019/20 guide will provide advisers with the tools to design a compliant initial and ongoing due diligence process and list risks associated with drawdown.
It will also explain different retirement options and enable advisers to evidence the suitability of a selected level of income or withdrawal.
‘Maintain financial security’
Defaqto insight analyst (wealth) Richard Hulbert (pictured) said: “Particularly now, in a shifting market landscape where a diversified portfolio is needed, the role of advisers is more important than ever. This guide is designed to provide a structure, the data, and illustrations to help advisers provide compliant and suitable advice.”
He continued: “This includes guidance on how to navigate the drawdown process by connecting income source to income needs, how to explain and manage the key risks of longevity, inflation, and sequence and how to evidence initial and ongoing suitability.”
Prudential UK head of technical Les Cameron added: “The mix of technical information and planning theory in the guide makes it really useful for those who are actively making retirement income recommendations at a time when drawdown is largely the norm.
“Of course, the most important thing to get really right is the investment strategy. This goes a large part of the way in determining whether or not people have a good drawdown journey.”