Financial advisers view small group sessions as a potential way to provide face-to-face retirement advice, according to a survey conducted on behalf of Prudential.
Of the 103 UK IFAs questioned, 57 per cent said that up to 10 clients could be practically helped through a group advice arrangement.
Vince Smith-Hughes, head of business development for retirement income at Prudential, commented that the willingness of advisers to facilitate group sessions could be a beneficial first step for people seeking reliable information at retirement.
He said: “The debate about guidance and advice and how it will be delivered has some way to run yet but it is clear that advisers are willing to address new thinking and new methods which may help a wider range of people.”
The research also found that 45 per cent of advisers believe the combination of the Retail Distribution Review, the introduction of auto-enrolment and the Budget mean the UK is now better positioned to tackle the savings gap and pensions crisis.
An FTAdviser exclusive poll of 2,000 adults in collaboration with Friends Life last week found that more that one in four of those aged 34 and under said they would put more aside as a direct result of the recent reforms.
However, the survey found markedly different attitudes among middle-aged and older savers, with three quarters of over-55s surveyed and a small majority of 45-54 year olds signalling the new pension access flexibility would make no difference to their saving.
Mr Smith-Hughes added: “The savings gap and pensions crisis remain as significant challenges for the country but it is very encouraging to see advisers being positive about helping people take control of their finances and planning for retirement.”
The Prudential survey also found that more than 57 per cent of advisers think the UK should now be targeting a savings to income ratio of 11 per cent or more, compared to the current household savings ratio, as measured by the Office for National Statistics in the first quarter, of 4.9 per cent.
