Table 1: The size of the annuities market 2004-2008 16
Table 2: The largest at-retirement players 2007 18
Table 3: Which of the following type of firm best describes your company? 40
Table 4: Average case size of business dealt with by financial advisors 40
Table 5: What is your view of the following life providers? 41
Table 6: Results of financial advisors' view of the following life providers Q2 2008 43
Table 7: What is your view of the following mutual fund providers? 43
Table 8: Life companies' products not matching IFA business models 44
Table 9: Mutual fund providers' products not matching advisors' business models 44
Table 10: Is the following a retirement priority for the majority of your clients? 45
Table 11: What is your view of the following annuity providers? 45
Table 12: Just Retirement was the top 'other' annuity provider 45
Table 13: What is the average size of a money purchase pension pot amongst your clients? 46
Table 14: What problems do you face when selling annuity products to clients? 46
Table 15: What proportion of your client base takes the open market option? 46
Table 16: Why do some clients choose not to take an open market option? 47
Table 17: Do you currently sell variable annuity products? 47
Table 18: What is currently hampering growth in the variable annuity market? 47
Table 19: Have you seen a growth in sales of with-profit annuities? 48
Table 20: What drives the sale of with-profits annuity products? 48
Table 21: Have you seen an increased interest in income drawdown since A-day? 48
Table 22: What is the key reason you see for the income drawdown option becoming more popular? 49
Table 23: What is your view of the following Income Drawdown providers? 49
Figure 1: Sole traders account for 49% of firms surveyed 7
Figure 2: Financial advisors deal mostly with average case sizes of less than £5,000 8
Figure 3: Financial advisors are most impressed by Standard Life, Legal & General and Skandia 9
Figure 4: Invesco Perpetual, Fidelity and Jupiter are highly regarded by IFAs 12
Figure 5: Life companies' products are not matching IFA business models 13
Figure 6: Mutual fund providers' products are not matching advisors' business models 14
Figure 7: The annuities market has grown every year since 2004 16
Figure 8: Prudential is the largest at-retirement player 17
Figure 9: IFAs want seven characteristics in their perfect at-retirement offering 19
Figure 10: Security is top of the priorities for advisors' clients 21
Figure 11: Financial advisors are most impressed by Prudential's annuity offering 23
Figure 12: Just Retirement was the top 'other' annuity provider 25
Figure 13: Most consumers have over £50,000 in their money purchase pension pot 26
Figure 14: IFAs have difficulties as clients' pension pots are too small 27
Figure 15: The majority of IFAs' clients take the Open Market Option 29
Figure 16: Some consumers still do not know about the Open Market Option 30
Figure 17: Most advisors do not currently sell variable annuities 31
Figure 18: A lack of advisor understanding is hampering growth in the variable annuities market 33
Figure 19: Advisors have reported no real growth in sales of with-profit annuities 34
Figure 20: Any growth in with-profits annuities has generally been caused by inflation concerns 35
Figure 21: There has been increased interest in income drawdown since A-day 36
Figure 22: Flexibility is the main reason for the increase in income drawdown 37
Figure 23: Financial advisors are most impressed by Standard Life's Income Drawdown products 39
Figure 24: Q2 2008 Advisors Survey showed similar results to Q3 2008 42
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