Advisers become specialists as auto-enrolment reaches 2 years

There has been a surge in advisers becoming automatic enrolment specialists, according to a savings organisation, as the scheme reaches its second anniversary today. The National Employment Savings Trust said, two years on from the scheme's introduction, many advisers are adding skills to become experts on the scheme. In fact, it believes demand from employers has created a "new breed" of advisers who are experts in automatic enrolment. It said the following points were evidence of up-skilling by advisers: • Many signing up to software, such as over 300 sign ups to Intrinsic's AE in a box software and payroll solutions• Over 5,000 have signed up to NEST's Adviser news• Over 3,000 have attended a NEST webinar on how to administer the scheme as a third party• Many promoting their specialism by identifying themselves as an automatic enrolment specialist on adviser websites. NEST chief executive Tim Jones said: said: "With 45,000 small and micro employers set to stage next year, market intelligence suggests the advisory community is rising to the challenge."There's evidence that advisers are 'skilling up' to be a one-stop shop for all their clients' needs, from scheme selection and set-up to payroll integration and the on-going running of the scheme."Small and micro employers to date have had little experience of workplace pensions, so it's natural that they'll want help."Only one in four currently offers a scheme." {desktop}{/desktop}{mobile}{/mobile} Research from NEST showed that around 74 per cent of small and micro businesses set to stage in 2015 want support.Intrinsic Financial Services launched its automatic enrolment solution, AE in a box, which includes NEST, three months ago. Since then it has conducted 16 courses and over 500 Intrinsic network members have attended the training sessions.Intrinsic head of automatic enrolment and at retirement, Richard Bartlett, said: "Intrinsic has seen a marked increase in the number of automatic enrolment cases."In a post-RDR world, advisers see the automatic enrolment market as an excellent way of increasing the adviser customer base."This allows advisers to not only help clients implement a qualifying workplace pension scheme but also deliver solutions for other needs such as pension transfers, mortgage and protection advice."He expects to see high volumes of business in 2015 and beyond.Neil Mutton Partner at Ablestoke Wealth Management said: 'The automatic enrolment market is a huge opportunity for advisers willing to roll their sleeves up and learn. The opportunity is of course not only to gain long-term corporate clients but also to provide a range of services to them."

Advisers become specialists as auto-enrolment reaches 2 years

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