The FCA published a new webpage setting out its findings from a review of life insurers' pension lifestyle investment strategies this month of June 17.
FCA explains that firms should review the lifestyle investment strategies and tell their clients how the lifestyle strategy relates to their retirement options.
In a recent review the FCA found that life firms firms use a number of different names for the various books of pension business they operate and then apply different strategies to each one..
Of course the world has changed, particularly with the no-annuity-cliff-edge situation the FCA is pushing for "deemed consent" and finding out when customers really do want to retire. For many post retirement can afford to take more risk, not less as their outgoings stabilise and they may live for decades more.
Lifestyling is an early form of algorithmic trading, and in a changing world it was always open to criticism.
IFAC say that lifestyling is for lazy IFAs, and to earn your one per cent you need to be proactive today.