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Solla launches new retirement advice standard

Solla launches new retirement advice standard

The Society of Later Life Advisers has introduced a new retirement advice standard to its ‘full’ members, with a roll-out to all regulated advisers expected later this year.

The Solla Retirement Advice Standard will have “wide appeal”, according to Tish Hanifan, Solla founder and Solla Enterprises co-chairman, as it emphasises not only technical expertise but also evidencing of working empathetically in the later life sector.

“Critically, all standard holders will sign up annually to a code of conduct that fully reflects the Solla brand values in this sector,” she stated.

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“There is currently no independent consumer facing body working to establish industry standards in this area. With this in mind we believe that this is the right time to extend the current reach of the Solla brand to support this sector of the market.”

Jane Finnerty, also co-chair of Solla and of Solla Enterprises, added: “The changes to the retirement market are profound, and we intend that the word Solla will resonate with both consumers requiring either holistic advice in the later life market, or those who wish to concentrate purely on retirement planning.

“We are expecting a good take up by our members, and we will offer the opportunity to acquire the standard to all regulated advisers working in the retirement market later this year.”

Andrew Megson, managing director of retirement at Partnership, said the group has worked closely with Solla, and now Solla Enterprises Limited, over a number of years. “The deployment of Solla standards in specific later life advice areas is an exciting development, and it will further help consumer confidence when seeking expert advice and guidance.”

ruth.gillbe@ft.com