Ten months after the introduction of the Retail Distribution Review
(RDR), and we are beginning to get the hard facts behind how the annuity
market has changed, and how people are buying annuities through
different channels.
The percentage of money coming through the advised segment of the
market has been slashed from 61% last year to 37% for the first six
months of this year. Instead more and more people are going through the
non-advised route; up to 52% from 32% last year.
The rise in non-advised is partly because there are more annuity
desks to choose from. Household names have recently launched offerings,
and a lot of time and effort has been invested in these services.
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