Financially Mature, Stress Free

Rethinking your client’s retirement plans to light up the opportunities

Our research¹ in partnership with forecasting specialists Trajectory, identified five retirement journeys for future clients. These were segmented based on key aspects of client’s lives now, such as health and income. One of the retirement journeys is Financially Mature, Stress Free.

With societal and lifestyle changes occurring along with a global pandemic, its most likely these clients financial plans may have changed direction, creating more opportunities for advisers to explore new solutions to help meet their needs.

Reviewing these clients’ plans now, will mean advisers can explore options which reduce the impact of inheritance tax their clients will pay whilst maximising and protecting their wealth for the future. 

What does this mean for advisers?

This group is likely known by advisers.  They will have comfortable levels of wealth, love spending time with their families, enjoy an active lifestyle due to good health and some are still working part-time or volunteering.

They are also likely to have an extended time between finishing full time work and declining health.

Based on our research it’s expected that this group is set to decrease over the next 15 years, as defined benefit pension’s tail off and home ownership either shrinks or becomes delayed.

However, there are still opportunities within this group for advisers.

We’ve looked deeper into this group and provided an in-depth insight into how reviewing these clients’ situations now, can highlight changes to their financial plans and the opportunities this can bring to advisers in exploring different solutions for their existing clients. 

The changing shape of retirement series

In our second eBook of the series we explore the Financially Mature, Stress Free group. Discover how you can use these insights to engage your clients and help grow your business.

Inside the eBook:

• Tips to build your business in 2021 and key considerations for advisers.
• Rethinking your client changing needs at 45, 65 and 85. 
• Useful tips and tools to enhance employee engagement.
• Guidance for vulnerable clients and mental health considerations. 

Plus, expert insight provided by Andrew Tully, Technical Director, who reveals the challenges this group might face and how to turn these into opportunities.

Retirement journeys – Complex Families, Complex Finances

One of the retirement journeys expected to grow significantly in the next 15 years is Complex Families, Complex Finances representing future growth opportunities for advisers.

This segment accounts for a third of those over 60 and is up from a quarter compared to a decade ago. Their wealth and comfort is challenged by the financial implications of a complex family, demands on their finances such as divorce, caring for elderly relatives and second marriages.

CPD qualifying webinar - In this CPD qualifying webinar Andrew Tully, Technical Director, discusses the Retirement Journeys. He examines the group Complex Families, Complex Finances and the opportunities they present for advisers.

Spotlight on: Complex Families, Complex Finances ebook  - In our first eBook of the series we explore the Complex Families, Complex Finances group. We reveal how advising these clients can help grow your business. Includes: expert insight, client journey in a handy case study and the needs of this group and how to translate into added value. 

Discover more

_{1. Source: Research for Canada Life was conducted in partnership with Trajectory, a strategic futures consultancy. It uses horizon scanning to identify the key trends shaping retirement now and in the future (to 2035), to identify a series of new models of retirement or journeys through later life.}