But the wider point is that the platform world has shifted. Now might be a judicious time for advisers to conduct due diligence on their existing platform providers to see how well they are set up to cope with the new income demands.
This will be important for controlling this risk to their business, as well as the risk of the client not receiving their income.
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‘Freedom’ and ‘choice’ were the watchwords of the pension freedoms. Now platforms need to extend these principles to the way they deliver income to clients.
Alistair Wilson is head of retail platform strategy at Zurich UK Life
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