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Post subject: Awareness campaign to boost IFA later-life literacy
 Posted: Feb 18, 2009 - 10:10 AM
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Joined: Apr 05, 2005
Posts: 2352
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Partnership Assurance is today announcing a campaign to help advisers capitalise on the opportunities presented by dramatic upcoming shifts in UK demographics. With the number of retiring people set to increase by 60% in the next 10 years, IFAs will need to significantly adapt their businesses and boost their competency in holistic financial planning for older people. To this end, Partnership is kick-starting its campaign by holding three high-level symposia to discuss the later-life market with IFAs across the country.
Robert Peston, BBC Business Editor and Andrew Neil, former Editor of The Economist and Sunday Times and current presenter of This Week, will join Colette Dunn, Head of the Strategy Group at Watson Wyatt and Steve Groves, Partnership's CEO, in discussing the urgent need for IFAs to have a fluent understanding of later life financial planning for an ageing population.
With dramatic shifts in the UK's population, there are now more people over the age of 65 than under the age of 16. This trend is set to become increasingly pronounced; forecasts predict that in just over 20 years, 40% of the population will be over the age of 50 and the number of people aged 85 and over will have more than doubled.
Andrew Megson, Managing Director - Retirement at Partnership: "With our sound expertise and heritage in both the retirement income and the care insurance and annuity markets, we are well positioned to raise awareness of the crucial later-life issues that will soon impact on the whole of the IFA community."
"Later-life literacy is hugely significant for both advisers and clients. We want to help IFAs be a step ahead of the demographics, armed with the skills to take advantage of business opportunities in this area; and specifically to develop holistic solutions that will help maximise their clients financial health in retirement."
Colette Dunn, Head of the Strategy Group at Watson Wyatt, said: "With the current uncertainty in financial markets and individuals becoming increasingly aware of their need for sound financial advice, it is critical that IFAs are fully aware of all the challenges people are facing regarding later life provisions.
"It is therefore appropriate that Partnership's Later Life Symposium should have these topics on the agenda, to help raise awareness of these challenges and I am delighted to be able to participate in the discussion."
Event information
Symposia will take place in Rudding Park, Harrogate, North Yorkshire on 20 October 2009; Mandarin Oriental Hotel, Knightsbridge, London on 22 October 2009 and Walton Hall, Warwickshire on 23 October 2009.
Conference themes include:
The true speed and impact of demographic change
Why all IFAs now need to develop their businesses to become fluent in later life financial planning
What are the key proposition developments and innovations we can expect to support advisers in the later life market?
How to distinguish effectively from the plethora of products currently available to maximise clients' financial health in retirement
The increasing demand for financial advice from those entering residential care and how to build a business in this market
What IFAs can do to ensure they meet TCF guidelines
In addition to the main platform presentations advisers will also have the opportunity to attend a Technical Expert session on either Retirement Income Planning or Long Term Care which will look closely at the product choices available and when they are likely to be most appropriate. |
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