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Advice Gap in the UK Market

The research encompasses life, pension and investment, and the working party will align and build on existing research, both from within the profession and externally.

This is an opportunity to produce thought leadership that can be used to inform Government, the market and consumer groups. A key objective is to demonstrate how adverse consequences of the advice gap could be mitigated if the ideas and conclusions of the research are followed.

Key objectives:        

  • Evaluating the emergence of an advice gap post-RDR
  • Assessing market distribution mechanisms by wealth segment
  • Researching product choice and complexity in the new environment
  • Considering adverse consequences of advice gap and two-tier market for consumers and society
  • Highlighting potential solutions and mechanisms to mitigate regulatory and market failure

Key outputs:

  • A research paper
  • A sessional meeting or SIAS meeting in 2022
  • A presentation at the Life Conference in 2021
  • An article in The Actuary
Chair: Chris Barnard
Membership 6
Established: 2021

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Start date
E.g., 20/01/2022
End date
E.g., 20/01/2022

Events calendar

  • Spaces available

    Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors.  

  • Spaces available

    Frank Redington is recognised as one of the most influential actuaries of all time. In this talk, Craig will review some of Redington's most important ideas. He will identify the consistent actuarial principles that form a common thread across the contributions Redington made to a broad range of actuarial fields, and will highlight the ongoing relevance of Redington's thinking to 21st century actuarial practice.

  • Spaces available

    The IFoA Mental Health working party look back over their week of blogs and podcasts considering all aspects of the relationship between mental health and life insurance. The expert panel spans adviser, underwriter and actuarial experience and they  explore triggers for purchasing insurance relating to mental health, the various routes to insurance and how these may be more suited to different people depending on their conditions and preferences, the products and processes involved in purchasing these as well as what claims and support are available to policyholders and how to access them.

  • Spaces available

    Part of the 'Finance in the Public Interest 2022' webinar series. If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?

  • Spaces available

    What will happen to DC pension savers who see life annuities as poor VFM but still want an income for life?  Pooled annuity funds could offer them a decent lifetime income while reducing significantly the complex choices and risk inherent in income drawdown.  They could be the next generation of CDC pension schemes, slotting into the existing DC framework as a post-retirement option.