However, I do predict more innovation in the way advice is given as more advisers realise it is not black or white and most retirement objectives can be met by a combination of annuities and drawdown.
In other words, it is not more product innovation we need, but more innovation in the advice process. It is tempting to speculate the innovation will be in robo-advice, but I think the most interesting innovation will be in the way advisers deliver personal advice.
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William Burrows is retirement director at Better Retirement
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