The Wealth Management Association and Sanlam Private Wealth have joined forces to debate pension freedoms and their implications for wealth managers.
According to Liz Field, chief executive of the WMA, the two organisations will put out a White Paper within the next few weeks on the subject.
Liz Field, WMA chief executive said: “The new pension reforms have had a material effect on the UK pensions, and therefore investment, landscape and provided significant flexibility and freedom.
“These changes are welcomed by the WMA as we believe people should be given the choice in how they choose to manage their finances ahead of retirement.
“However, this new landscape brings with it a set of questions and challenges that need to be carefully considered.”
Adviser view
Bob Wilson, director of Norfolk-based Greensky Wealth, said: “The only change we have made is that we have looked at people’s likely timeline for withdrawing money from their pensions.
“For those people for whom it is sensible to do it sooner than was previously allowed, we have amended the investment strategy to fit in with that, but I would say that’s about it.”
