Birthstar has launched a CPD research series on rethinking retirement, aiming to help advisers navigate the new pension freedoms with their clients.
The research and advisory firm for asset managers and intermediaries said the series is designed to assist with the theory and practice underpinning retirement planning from both an investment and behavioural perspective.
The series begins with a paper entitled ‘Rethinking Retirement Investing’, focusing on the concept of asset/liability investing, making sure that both remained aligned to clients’ objectives.
It also explores key determinants of shortfall risk, including investment term, longevity, inflation, liquidity and mismatch risk of the asset portfolio, relative to the theoretical liability it is designed to match.
Birthstar stated that incorporating insurance into the asset allocation lifecycle is key, noting that it is vital there is a “corresponding portfolio of assets and insurances”.
The paper expresses that financial advisers have a key role to play in combining the building blocks of retirement: state pension, defined benefit schemes, target date funds, annuity contracts and life insurance.
The series is accredited by the Personal Finance Society, the Institute of Financial Planning and the Pensions Management Institute.
Henry Cobbe, head of research at Birthstar, said: “The underlying principle of launching the CPD series is because with the new pension freedoms the responsibility of managing decumulation has shifted from the insurers to the advisers.
“Pre the Budget reforms advisers were just worried about equities and bonds; the building blocks are quite different and much more complex now and need to get brought together in a holistic way.”