Adopting a service model.

Retirement

Jonathan Watts-Lay, Director, WEALTH at work attended a panel discussion held by Barnett Waddingham on 1st June to discuss the topic of retirement innovation.

Watts-Lay believes the old model, where customers are provided with products from numerous providers, no longer works. Instead, the sector has to evolve by adopting a service model.

“The service concept is really important to taking people along a journey,” he said. “We will see a service model which will give you a set price. It’s all new technology and a whole new world; you don’t have to do it in the old way.”

Watts-Lay goes on to describe three advantages of having a service model, “Three advantages of having a services model include better-tailored options for members, more control over money and provision through the entire retirement journey.”

Further coverage can be found in Professional Pensions and Professional Adviser.

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