"We have seen strong demand following pension freedoms with advisers and clients focusing on the need for certainty and flexibility."
According to MetLife, advisers are looking to the FCA and the Treasury for support for innovation – 54% say they would back campaigns to outline the benefits of guaranteeing a level of income.
MetLife recently passed the £5 billion assets under management milestone, and says that ongoing volatility and low interest rates highlight the need for a level of income certainty and flexibility in retirement.
Its growth has been accelerated by its expansion into ISAs with the launch of its guaranteed stocks and shares ISA last November underlining the growing demand for guaranteed solutions.
Dominic Grinstead, Managing Director, MetLife UK, said: “We have seen strong demand following pension freedoms with advisers and clients focusing on the need for certainty and flexibility.
“Guaranteed solutions are proving particularly valuable given current uncertainty but the growth in assets under management since launch in 2007 shows the strength of the market throughout different conditions.
“Achieving the £5 billion milestone highlights the need for flexible innovative solutions to challenge annuities and traditional drawdown both of which have limitations in the current market.”
