TAL Risk Academy Retirement Month focuses on adviser role in building retirement confidence

TAL research shows more than a third pre-retirees plan to seek personal financial advice, and advisers the leading trusted source of information in retirement

TAL Risk Academy will run a series of retirement-focused webinars in September to help advisers meet growing demand for trusted guidance before and during retirement.

The webinars will feature retirement specialists from TAL, AMP and MLC Expand, including AMP Director of Retirement Ben Hillier, MLC Expand Head of Technical Jenneke Mills and MLC Expand Retirement Specialist Erica Malliotis, with practical guidance advisers can use in conversations with clients.

The program comes as TAL’s What I Wish I Knew retirement research highlights the important role advisers play in helping Australians translate complex retirement choices into practical decisions about income, superannuation drawdown, Age Pension eligibility and later-life planning.

The research found 35% of pre-retirees are planning to talk to a financial adviser to improve their financial position before retirement, pointing to a clear opportunity for advisers to support clients before key retirement decisions are made.

Pre-retirees are looking for help on the decisions that most directly affect retirement confidence, including how much super they can comfortably draw down, how much money they need to retire comfortably, how they should invest or use their super when they retire, and where they can access advice and what it will cost.

Financial advisers are a key source of information in the lead up to and during retirement. Among pre-retirees, 45% use a financial adviser to improve their understanding of super and investments, almost equal with super funds at 46%. Among retirees, financial advisers are the leading source at 39%, ahead of super funds at 30%.

The findings also show strong demand for personalised guidance rather than generic information, reinforcing the value of trusted advice in helping clients make confident retirement decisions.

TAL General Manager, Retirement and Wealth, Shaun Bransdon, said the research shows advice is central to helping Australians retire with more confidence.

“Retirement is no longer a single decision made at a fixed point in time. For many Australians, it involves ongoing choices about income, drawdown, aged care, the Age Pension and how to make their savings last,” Mr Bransdon said.

“That is where advisers play such an important role. The right advice can help clients understand their options, make more informed decisions and feel more confident about using their retirement savings to support the lifestyle they want.”

“Through TAL Risk Academy’s Retirement Month, we want to support advisers with practical, technical and client-focused insights they can use in retirement conversations, from contemporary retirement income strategies through to the role of the Age Pension in a broader retirement plan.”

For more information visit Retirement Month | TAL Risk Academy.

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