Franklin Templeton Investments
Cannon Place, 78 Cannon Street,
London, EC4N 6HL,
United Kingdom
For Immediate Release
PENSION FREEDOM REFORMS PRESENT OPPORTUNITIES FOR ADVISERS
 One in five of those on highest incomes seeking advice
in light of pension and annuity changes
 Those taking financial advice are more comfortable with their retirement
saving and less stressed
London, 11 May 2015: The onset of the government’s pension freedom reforms earlier this month will create a
raft of new opportunities for financial advisers, according to Franklin Templeton’s Retirement Income
Strategies and Expectations (RISE) survey.
Of those surveyed that do not currently seek financial advice, 38% of those with a household income of £50k+
are more likely to work with an adviser on retirement planning as a result of the impending changes,
highlighting the new business opportunity for advisers who can help those approaching retirement navigate
their new options. However, across all income levels a significant number (40%) don’t know whether they are
more likely to work with an adviser post the changes.
There is undoubtedly an advice gap to be filled – in households with incomes of £60k+ less than one in five
(19%) currently work with a financial adviser. Looking across the board, 61% of people have never worked with
a financial adviser, but it is interesting to see that almost half (48%) of people view financial advisers as
‘important’ in planning for, and generating income after retirement.
The RISE survey also explored the reasons behind the low levels of people currently utilising financial advice.
Of those surveyed, who do not currently have a financial adviser, the overriding reason given for not doing so
was that they do not feel the need (68%). High costs were also cited as a key concern (31%), as was lack of
trust towards the adviser community (15%).
People currently working with financial advisers are experiencing significantly more positive outcomes than
those who are not. Over half (54%) who are currently taking financial advice feel they have saved, or are
saving, enough for retirement, compared to just 30% overall. Furthermore, just 16% of those taking advice are
experiencing moderate or significant stress levels around their retirement savings, compared to 23% overall.
Ian Wilkins, UK Country Head at Franklin Templeton, commented:
“The new Pension Freedom and Choice reforms have increased the options available to those approaching
retirement, and as a result, the need for guidance and advice is as important as ever to ensure that pension
savings are used as effectively as possible. Financial advisers have a crucial role to play in educating those
approaching retirement on their retirement income options.
“As shown by our RISE survey, taking advice on retirement planning is likely to establish greater confidence
amongst savers that they are taking the right steps to ensure their savings will convert into an income stream
and see them through their retirement.”
Yvonne Goodwin, Managing Director at Yvonne Goodwin Wealth Management Ltd, commented:
“The new pension freedoms rightly place retirement savings at the top of the news agenda, but they are also
the wakeup call that many need to properly budget for their retirement and realise the importance of effective
financial planning.
“Lump sums and Lamborghinis might seem like attractive options, but what the Franklin Templeton RISE
survey shows us is that people who properly consider their retirement income needs, and how best to achieve
them, are the ones who are feeling much less stressed as they approach retirement.”
- ENDS –
Contacts:
Mel Shelley
UK Corporate Communications Manager
Franklin Templeton Investments,
Cannon Place, 78 Cannon Street,
London, EC4N 6HL,
Tel: +44 20 7073 8541
Email: [email protected]
Simon Hockridge
Associate Director
MHP Communications
60 Great Portland Street
London
W1W 7RT
Tel: +44 20 3128 8789
Email: [email protected]
Notes to Editors:
1. Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton
Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and
sovereign wealth clients in over 150 countries. Through specialized teams, the Company has expertise across all asset classes—
including equity, fixed income, alternative and custom solutions. The Company’s more than 600 investment professionals are
supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35
countries, the California–based company has more than 65 years of investment experience and over $881 billion in assets under
management as of March 31, 2015. For more information, please visit franklintempleton.co.uk.
In the UK, Franklin Templeton Investments offers a distinct and diversified investment line-up, comprising three major international
equity houses (Franklin, Templeton and Mutual Series); a specialist UK equity house (Rensburg Fund Management now rebranded
Franklin Templeton Fund Management Limited); several dedicated country-specific equity houses; complemented by a substantial
global fixed income group. Franklin Templeton Investments promotes to UK intermediaries 100 funds, including:
•
84 Luxembourg-registered SICAV funds including 70 GBP share classes
•
15 UK-registered OEIC funds
•
1 investment trust
2. Survey Methodology
The 2015 Franklin Templeton Retirement Income Strategies and Expectations (RISE) survey was conducted among a sample of 2,004
adults comprising 1,002 men and 1,002 women 18 years of age and older. The survey was administered from 8th January to 22
January, 2015 by ORC International’s Online CARAVAN®.
This press release is intended to be of general interest only, and does not constitute professional advice. Franklin Templeton
Investments and its management groups have exercised professional care and diligence in the collection and processing of the
information in this press release. Franklin Templeton Investments makes no representations or warranties with respect to the accuracy
of this document. Franklin Templeton Investments shall not be liable to any user of this report or to any other person or entity for the
inaccuracy of information contained in this press release or for any errors or omissions in its contents, regardless of the cause of such
inaccuracy, error or omission.
Any research and analysis contained in this document has been procured by Franklin Templeton Investments for its own purposes.
For more information, UK investors should contact: Franklin Templeton Investments, Cannon Place, 78 Cannon Street, London EC4N
6HL. United Kingdom. Phone: 0800 305 306, E-Mail [email protected]
Issued by Franklin Templeton Investment Management Limited (FTIML). FTIML is authorised and regulated in the United Kingdom by
the Financial Conduct Authority.
For more information on our Funds please visit our website www.franklintempleton.co.uk
Copyright © 2015 Franklin Templeton Investments. All rights reserved.