The 29th Annual Retirement Income Conference 2025, organised by Westminster & City, offered one of the most honest and forward-looking conversations I have witnessed in our industry in recent years.

WealthObjects was proud to support this event, and the day delivered a rare combination of clarity, realism and optimism.

The tone throughout was refreshing. No fluff. No attempts to avoid difficult topics. Just thoughtful, direct dialogue about the challenges facing UK savers and the opportunities now emerging for firms willing to reimagine how they deliver retirement journeys. Expertly moderated and shaped by well-informed speakers, the event created an environment where the sector could reflect, question and re-evaluate what the next decade might look like.

And truthfully, the next decade may bring the most profound change the pensions and advice landscape has ever seen.

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The uncomfortable truth: consumers are entering retirement under-informed and under-supported

Several public figures were referenced during the event that should give all of us pause:

• 1 in 5 DC savers do not know what their retirement income will be.
• Only 1 in 7 are currently on track for the income they expect.
• Around 8% of people take regulated financial advice each year.
• A significant proportion of adults lack confidence in accessing their pensions or choosing a retirement pathway.
• Many approaching retirement say they would make different choices with hindsight.

These are not small gaps. They reveal something deeper. People do not just need options. They need guidance and support. They need clarity. They need guardrails. They need journeys that make sense. And they need experiences that are simple, trustworthy and consistent.

This is where the industry has to move beyond the traditional advice-or-no-advice binary. The middle ground is where the majority of people live. And that middle ground is finally being recognised and addressed.

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Targeted Support: not an experiment, but an evolution

One of the most important reflections I took from the event is that the forthcoming Targeted Support framework is not being designed exclusively for large institutions. It is open to firms of all sizes if they can show:

• how they segment their customers,
• why those segments make sense,
• how their journeys work end-to-end,
• how they engage and their entire communications content,
• and how the entire process can be evidenced, audited and repeated.

This matters. It gives other organisations genuine opportunity to innovate, compete and grow. It means we will see new propositions from firms who may not traditionally have participated in formal guidance or advice. It means consumers will have more accessible, structured pathways than ever before.

And critically, it means technology is now central to regulatory readiness, not just an operational convenience. Without integrated systems, clear audit trails, structured segmentation and consistent decision flows, no firm will be able to deliver Targeted Support at scale.

This is precisely where a platform like WealthObjects fits in. We exist to help firms build these journeys responsibly, safely and efficiently. Not to replace human expertise, but to support it. Not to take away judgement, but to give it structure. Not to automate advice, but to make the process around advice – in all its forms – coherent and scalable.

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The pensions dashboard and the coming wave of consolidation

Another theme that stood out for me was the likely long-term impact of the Pensions Dashboard. For the first time, millions of people will gain a consolidated view of their pensions. Once this happens, consolidation will only accelerate. Many individuals will naturally bring together their pots for simplicity, control or convenience.

But consolidation brings new dynamics that our industry needs to think about carefully.

Whoever ends up administering a consolidated pot – whether a workplace scheme, a provider or a digital platform – will have substantial influence over the “default” path a consumer follows. The nudges they see. The modelling they view. The choices that are placed in front of them. The communications they receive. And the retirement journey they end up taking.

This could be positive if those journeys are transparent, fair and rooted in good outcomes. But it could also risk narrowing consumer choice if not designed thoughtfully.

As an industry, we cannot afford complacency here. Defaults shape behaviour. Behaviour shapes outcomes. And in retirement, outcomes can affect decades of a person’s life.

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A moment of opportunity – if we prepare for it

The coming years may feel uncomfortable at times as the sector adapts to new models, permissions and expectations. But they also represent a rare moment of opportunity. If we get this right:

• people will finally understand their pensions;
• they will no longer rely on social media for financial guidance;
• they will engage earlier and with more confidence;
• they will retire with more clarity and fewer regrets;
• and they will be supported by regulated firms who actually specialise in these journeys, not by unregulated influencers.

The coming years will bring new models, new permissions and new levels of digital accessibility. They will also bring pressure. Pressure for firms to modernise, unify their systems, and prepare for a world where structured guidance and simplified digital journeys become the norm rather than the exception.

The best organisations will be the ones who start preparing now. Those who adopt the right technology, the right processes and the right mindset. Those who see the opportunity rather than the disruption.

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When digital support opens the door, human advice completes the journey

Looking further ahead, there is a strong case that more people will engage with full holistic financial advice far more freely than they do today. Targeted Support will introduce millions to structured, digital guidance for the first time, covering both investments and pensions accumulation. Simplified advice will then widen access further, opening the door to help with broader aspects of financial planning in a more affordable and accessible way.

Once individuals enter these digital pathways and begin to experience the value of structured support, many will naturally progress towards holistic advice when their needs become more complex. Life events, tax considerations, family transitions, long-term planning and the desire for personalised human reassurance all sit beyond the scope of digital journeys alone.

This shift may create short-term pressure for advice firms as models evolve and new propositions emerge. But those who stay the course, innovate, and partner with the right technology providers will be well positioned to benefit from a larger population entering the advice bracket over time. The firms who embrace this transformation will not just survive it; they will help shape it.

Independent advisers, in particular, have a powerful story to tell. While some digital journeys may steer consumers towards predefined product routes, advisers offer something fundamentally different: neutrality, nuance, empathy and the ability to interpret a whole life, not just a dataset. Technology can guide. But advisers can understand. And that distinction will only become more valuable.

The future still has a deeply important place for advisers. As more people enter the digital guidance ecosystem, it will be the human advisers who complete the journey, providing depth, reassurance and the personal connection that technology can never fully replicate.

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Where WealthObjects fits into this future

Our purpose at WealthObjects has always been simple. To help firms build modern, scalable, compliant digital solutions in financial planning, advice and investing that genuinely support consumers. Whether a firm is preparing for Targeted Support, exploring Simplified Advice or designing a more engaging retirement experience, our platform enables them to deliver structured, auditable and personalised journeys with confidence.

We do not believe technology replaces human judgement. But it absolutely strengthens it. It gives it structure. It gives it reliability. And it gives it scale at a time when demand for clear, guided support is only going to grow.

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Looking ahead

I left the event both energised and reflective. The next decade will change more about retirement, advice and digital engagement than the previous two combined. There will be winners and losers. There will be challenges and opportunities. But importantly, there is now a real sense that the industry wants to move forward together.

If we collectively prepare, consumers will be better off. The next generation will retire with more clarity and confidence. And the firms who invest early in their digital foundations will be the ones shaping the future, not reacting to it.

At WealthObjects, we are ready to help firms on that journey.

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-By Uday Nimmakayala, CEO & Founder, WealthObjects