AIFA welcomes FSCP retirement study

In response Andrew Strange, director at AIFA, said: "The findings of this report echo those of AIFA's own recent study of the decumulation market, ‘Financial Planning Through Retirement'. Our research found that although in its infancy, the decumulation market is emerging as a recognisably different part of the overall advice market.

"Many firms now have specialist licences for advisers who work in the decumulation area. However, there is an urgent need to address the issue of adviser capacity and ensure the introduction of new blood into the adviser market.

"Following on from the launch of our recent report, we will shortly be producing adviser practice notes for our members who work in the decumulation area. This is a real potential growth area for our members. The number of consumers coming into the market for advice will increase and it is vital to ensure they have access to good, independent financial advice."