Nearly half of advisers could exit DB market in 12 months, say Royal London and LCP

Hannah Godfrey
clock • 2 min read
More than a third (35%) of respondents said they were unsure if they would be operating in the DB market in 12 months.
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More than a third (35%) of respondents said they were unsure if they would be operating in the DB market in 12 months.

Nearly half of financial advisers currently operating in the defined benefit (DB) transfer market could exit by this time next year, with issues surrounding professional indemnity (PI) insurance appearing to be the main driver of change, research has found.

A joint research paper by Royal London and pension consultancy Lane Clark & Peacock surveyed more than 750 individuals working at adviser firms. Almost three-quarters (71%) of those had given DB transfer...

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