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Canada Life and Defaqto launch free Drawdown Review Guides

20 July 2020

Canada Life has teamed up with Defaqto to create free Drawdown Review Guides, designed to support the advice process and prepare clients for the review, making sure any changes to clients’ attitude to risk is captured.  

The collaboration comes after a Canada Life survey showing that 43% of advisers are feeling the pinch as clients grow more demanding of their time amid the recent market volatility, while 69% of advisers believe their clients are concerned about the financial impact of Covid-19 on their retirement planning.

Andrew Tully, technical director, Canada Life, said: “It’s clear that the short and long-term impacts of Covid-19 are only now starting to be felt and understood. In recent months we have seen stock market volatility around the world with falls of up to 35% followed by a substantial rally shortly after, and the slashing of dividend payments by many businesses. This could easily be seen as a perfect storm for those in drawdown and it’s unsurprising that many may be feeling concerned.

“Clear communication is crucial and an annual review is an integral part of that process. Our guide, written in conjunction with Defaqto, aids the design of a robust and repeatable process which can help you demonstrate the right way forward for each of your drawdown clients.”

According to Tully, advisers may also need to factor in whether there are any lasting changes following recent events, including whether investment weighting in commercial property should be altered.

Adviser guide:

Customer guide:

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