SS&C Blog

BLOGS. July 14, 2022

Solutions to the Retirement Industry Advice Gap: Broadening the Lens

The “advice gap” is an increasingly familiar term in the U.K. pension market. The phrase describes a shortfall between those who need or might benefit from financial advice and those who receive it. There is no single reason why the gap exists. Cost, accessibility and general inertia on the part of savers are all contributing factors. But businesses have also been viewed as not doing enough to support and encourage employee education and awareness. Concerns about meeting regulatory requirements for advice and personalized support may have dampened interest in providing education and advice.