Adviser > Individual > Drawdown > Helping you with the drawdown advice process
Helping you with the drawdown advice process
We've created a range of support material to help you with the drawdown advice process. Find out how we can help you with this complex area of financial planning.
Clients looking to access their pension have many options open to them. The pros and cons of each option should be carefully considered before a decision is made. As a financial adviser you need a full understanding of the options available and the client's personal circumstances and objectives before making a recommendation.
FSA's advice guidance
- Link recommendation to client's personal and financial circumstances
- Ensure product recommended is appropriate for client's attitude to risk and financial well-being
- Discuss all options available and reasons for discounting them
- Consider the suitability of the product if the client is still working
- Pay regard to client's information needs
- Provide all information to the client in a balanced manner
- Record all essential client information.
Acquiring this expertise takes time and effort. To help you, we've created this resource centre to build on your existing knowledge of the 'at retirement' market and give you the tools to help you determine whether income drawdown is appropriate for your clients.
Why is this important?
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The FSA requires you to have a full understanding of the available options and be able to explain the risks of each option before advising clients to use drawdown.
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You are more able to demonstrate the value of your advice if you fully understand and are able to explain all the options available.
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It may help you to retain clients for longer and so increase the revenue generated for your business.
How we can help?
Support material
As a recognised expert in drawdown we have a range of support material that allows you to advise your clients with confidence. You can
Looking for a drawdown product that's flexible for your clients?
Income Release is our fully integrated income drawdown facility which allows your clients to tailor retirement benefits around their changing circumstances.
Once you've identified those clients that could potentially benefit from using an income drawdown plan we've a range of material for our Income Release proposition that you can use with them, including:
If you'd like to find out more about Income Release or request an illustration get in touch with your usual Scottish Life contact.
For professional advisers only
