The current market volatility combined with the low interest rate environment have provided financial planners with a perfect opportunity to add real value to their retiree clients, according to the latest data released by Investment Trends.
But to deliver that real value, the planners are looking to the major platform and product providers to provide them with the right tools.
The research, contained in the Investment Trends 2015 Retirement Planner Report, found the majority of planners (84 per cent, up from 82 [per cent in 2014) are seeking assistance from product providers to better service their pre-retiree and retiree clients.
It said they were most commonly seeking online tools and calculators, ahead of education/awareness initiatives and improved products.
“Planners want product providers to equip them with the necessary tools to engage their pre-retiree and retiree clients,” Investment Trends head of research for Wealth Management, Recep Peker said. “Having the right products is important, but these need to be backed with interactive tools and calculators that planners can use alongside their clients.”
The Investment Trends research pointed to the success of Challenger in the annuities space and the fact that an increasing number of planners were advising clients into annuities products.
The top-rated platform by planners seeking to service pre-retiree/retiree clients was Colonial First State FirstChoice, followed by Macquarie Wrap, CFS FirstWrap and Asgard eWrap.
