The pensions specialist and founder of JargonfreeBenefits.co.uk said while some players in the industry have suggested that auto-enrolment would be a nightmare, other adviser firms have “already adapted their business to work in this lucrative market”.
Mr Bee acknowledged that AE will be “a lot of work for employers”, but he said there were systems that could help advisers distribute their services in the workplace and help employees to engage not just with pensions, but all their benefits.
He said: “AE is forcing employers to communicate with their staff and it is encouraging staff to take responsibility over their finances.
“Where advisers come in is in bridging the information gap. Good advisers can become communicators in the workplace and find a wide target market of potential savers and people needing cover and healthcare.”
Mr Bee said he has already seen more than 100 firms sign up to use his workplace platform JargonfreeBenefits, and the advisers have the licence agreement to sell products and services over it to the workplace market.
He said: “This is about putting everything in one place, structuring communications, bringing together all the workplace benefits onto one platform. This is good for clients, advisers, employers and employees.”
ADVISER VIEW
Darius Paine, managing director for Buckinghamshire-based Whiteleaf Financial, said: “As AE comes in, I think a technological platform such as this will become something that employees of any size firm come to expect, as it gives them access to information any time they want, enabling them to choose the voluntary benefits that are most relevant to their lifestyle at that time.”
