The joint group will now consider the full decumulation landscape, significantly including equity release. The expansion of the standing committee comes as AIFA and AMI launch a series of guides for advisers working in the decumulation market later this year.
Andrew Strange, Director of Policy at AIFA and AMI, said: "Our recent report ‘Financial Planning Through Retirement' demonstrated the need for much more work to ensure the decumulation market is considered holistically, rather than at a ‘product level', to work efficiently and deliver the best outcomes for consumers. This is already a growth area for both IFAs and mortgage advisers so we want to work to help members interested in this sector.
"We believe strongly that there must be a holistic approach to the decumulation market from industry, Government and regulators. We must ensure that consumers can access good, professional advice. And the industry needs to provide access to a wide range of services and products to help people make best use of their assets. That is why we are shortly going to launch a series of good practice guides for advisers working in the decumulation market.
"I encourage all those AIFA and AMI members interested in this area to join this expanded group and help to influence the decumulation market."
All those interested in joining the working group should contact [email protected] or call 020 7628 1287. The next meeting is 10 September.
