Research by Winterthur Life suggests that the UK independent financial advice (IFA) community is set to continue to feel the benefits of the A Day reforms to the pensions system for some time to come.
Winterthur’s survey of IFAs found that 75% of those polled expect their new business to increase over the next six months on the back of A Day. Among the respondents, 60% expected their business to grow by 25%, and a further 18% by more than that, IFA Online reported.
Tax free cash changes, executive pension plans and SIPPs were among the elements of the A Day changes that were underpinning the expansion in IFAs’ business, Winterthur found.