Joint advice on retirement planning has started to rise months after the pension freedoms, advisers have claimed.
According to Vince Smith Hughes, retirement income specialist for Prudential, more advisers have told the provider that couples are increasingly coming to them seeking advice about their pension options.
He said: “Advisers are telling us that the shape of their client base is changing. Best practice in retirement and legacy planning has always been for couples to make well-informed joint decisions.
“But recent changes mean that for some people it’s now also important to involve their wider families in the planning and decision-making process.
“The choices now faced by those who have saved through their working life and the implications of these choices mean that, more than ever, professional financial advice should be a valuable part of retirement planning for most people.”
According to Mr Smith Hughes, a snap poll conducted earlier this year by Prudential among 119 advisers found that 68 per cent expected to be advising more couples in the future, with 33 per cent already reporting an increase in couples and families within their client base.
Adviser view
Billy Burrows, an independent retirement options adviser, said: “With freedom comes responsibility, and individuals owe it to themselves and their family to get the best possible help and information before making important decisions about how best to use their pension pot.
“It is no surprise to see advisers gearing up to help more couples and families make the right financial decisions together.”
