More clients are seeking financial advice on annuities, pensions and self-invested personal pensions than Isas following the introduction of pension freedom, according to research from Canada Life.

Canada Life’s survey of 306 advisers taken in December found 80 per cent reported that pensions are the most sought after area of advice in 2015, which is up from 29 per cent in 2014. Isas were reported to be the second most in-demand product for advice, down from first place last year.

The survey found that advisers were most concerned about future changes to the pension system. This was cited as the biggest worry by two thirds of advisers, closely followed by the impact of new rules for pension tax relief. The research found that advisers had clients who had more cash to invest this year. The average amount of investable assets advisers reported rose by 1.7 per cent or £3,257, from £188,556 in 2014 to £191,813 in 2015.

Pension lump sums now account for 46 per cent of investible cash, up from 24 per cent last year and just 4 per cent behind savings.

(FTadviser.com/FA, Feb 2016)

Pensions Advice

If you would like to speak with one of our Independent Financial Advisors and potentially receive financial advice, please contact us on 0117 923 7652. We are based in CliftonBristol but we are happy to service clients from across the UK and we provide free initial meetings at our client’s convenience.

Churchill Wealth Management Limited is located at 13 Alma Vale Rd, Bristol BS8 2HL, United Kingdom.

About Us: Churchill Wealth Management is a team of independent financial advisors/financial advisers (IFAs) based in Clifton, Bristol. We provide independent financial advice, including pension advice, investment advice, inheritance tax planning and protection/insurance advice.

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