The government recently announced the pensions dashboard project will go ahead under the DWP. We believe the current proposals will benefit advisers. So, as a project sponsor, we're keen to make sure advisers aren’t left out of the thinking. Here’s why.
More potential customers
By having ready access to their current pension savings we expect more people will realise they need to save more. Or at least need advice on what to do next. We strongly believe advisers are best placed to satisfy this need.
More engaged clients
Being able to see all their pension savings in one place online means clients will be more engaged with their pensions. This can only be a good thing. A more engaged client is more likely to want a long-term adviser relationship.
Adviser dashboards
One aspect of the project that’s extremely positive for advisers is advice firms will be able to host a dashboard for their clients. This provides a powerful opportunity to give a better service. We think most major adviser software providers will add this functionality to their propositions and expect advisers to be a leading provider of dashboards to the UK public.
Makes the fact find easier
All too often the fact finding process can take far longer than it needs to. Why? Because a client simply doesn’t know what existing arrangements they have and what they’re worth. This is exactly what the dashboard will provide; every pension, their values and information on penalties and guarantees on one screen. In a format that can be shared. This will undoubtedly mean less chasing for information. Meaning you can get on with what you do best - helping your clients make the right decisions.
We always champion the value of impartial advice. So we’ll continue to keep advisers at the forefront of our conversations, as the pensions dashboard takes shape.
This is a Royal London promotion.
We're the UK's largest mutual life, pensions and investment company. When we first opened our doors in 1861, we wanted to help people to help themselves. And it’s been our way of thinking ever since. As a mutual, we're owned by our customers. So you can be sure that absolutely everything we do has their long-term interests in mind.
We’re on your side
We believe the best customer outcomes are achieved through a combination of value-for-money propositions and impartial advice. That’s why we design a wide range of pension and protection solutions with advisers at the heart of our processes.
We believe in personal service, so you can expect direct contact with our experienced staff. But we also believe in great technology - through our innovative online services, you’ll have your client’s details at your fingertips. You’ll be able to access information, track progress and make live changes to their plan with us.
Why Royal London for your clients?
We like to think your clients will feel the benefit of being part of Royal London, rather than anyone else. For example, we’ll aim to give your pension clients a share of our profits each year to boost their retirement savings.
Your protection clients will also have access to our value-added benefit, Helping Hand - a package of services designed to give them the practical and emotional support they need at difficult times in their lives. All at no extra cost.