Before you get stuck in...
Arash NasriSenior Vice President,Global Assets
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Welcome to the final edition of Investment Edge for 2023.
I’m hoping to fill a few minutes of your time over a spiced pumpkin latte (is it Christmas yet?) with some interesting thoughts and insights from the team here at Redington.
First up, you’ll be sticking with me for our thoughts on retirement income, or ‘decumulation’. Earlier this year, the FCA announced its intention to conduct a thematic review into retirement income advice. We thought it a timely opportunity to provide our opinion on the puzzle that is retirement income, and to speak about some of the issues that are worth considering for wealth businesses constructing a decumulation offering.
Before you get stuck in…
Consumer Duty has been a focal point during the year, as readers of this quarterly will no doubt know well given its recent implementation. There are many components to the new regime but, in short, it aims to set higher standards of consumer protection. All professionals along the value chain are on the hook for ensuring that clients get the right outcomes and that includes sections of the advice process which may have been outsourced. With this in mind, our Fiduciary Oversight team has penned an article exploring the types of questions that advice businesses should be asking their DFMs in line with this enhanced duty. We have extensive experience in this kind of oversight work on the pension scheme consulting side of the business, and that intellectual capital is helping us offer a similar service in the DFM setting.
The focus on responsible investing continues across the industry, reflecting the broader societal commitment to a more sustainable future. As flagged in last quarter’s Investment Edge, we are following up in this edition with a Q&A from Professional Pensions Rising Star nominee Celine Grace Legaspi on nature-based solutions. This is an interesting and emerging asset class within the sustainable investment space. Though largely illiquid in nature at present, it will be interesting to see how this market evolves as it relates to retail clients. The incoming Long-Term Asset Fund (LTAF) structures – which aims to provide open-ended access to illiquid assets – may play a part and is an area we continue to monitor with interest.
We end with another Water Cooler Chat. On this occasion, we introduce you to both Tara Gillespie, Head of Global Assets – speaking about what she does at Redington and what she has been up to over the last year – as well as the handsome Salty, her cockapoo, and reliable shipmate.
I hope you enjoy the readings, and welcome feedback including any suggestions for future editions. Enjoy the festive period!
