Former Chair of Pension and Lifetime Savings Association Ruston Smith joins Guiide as Chair

Scottish fintech Guiide announces Ruston Smith as Chair to lead its board.

Recognised as a prominent figure throughout the pensions industry, Ruston is known for his commitment to a customer-centric approach having led numerous successful industry initiatives to help members get the best outcome from their pension savings. With more than 35 years’ senior executive and non-executive experience in the retail, pensions and asset management industry, he’s perfectly positioned to drive forward Guiide’s vision of a simplified pension solution.

This appointment comes at a time where people have difficult but important decisions at retirement. Clear guidance with the opportunity to get independent financial advice, in a safe and trusted environment, is critical.

Guiide’s free online retirement modelling platform has been very popular with consumers planning to use, or already considering, the Pension Freedoms. Companies, schemes and providers have also recognised the value of providing this directly to their employees, members and customers with licensed bespoke versions.

Guiide is now building on its initial success by also helping those with relatively low pension savings and assets – people who may typically take pension pots all as cash. This is a much under-served demographic. One that arguably needs the most help, but can be left to muddle through the complexities of pensions and the consequences of their choices without any kind of support, guidance or advice.

The Pensions Regulator recently discussed “what good looks like” in accessing pensions for savers;

Value for money
Support in decision making
Help mitigate risks
Market innovation
Ongoing support

Guiide’s current platform, future planned developments and integration with the right solutions, optimised to mitigate the key risks of decumulation, will meet all of the above.

Kevin Hollister, actuary and founder of Guiide, said;

“To say we are pleased to have Ruston lead our board is a huge understatement. His exceptional advocacy for protecting savers, helping them understand pensions and achieve their desired retirement outcome could not be a better match for our goals and vision to simplify the word “pensions” and provide practical, usable solutions to savers. In the advised space this will be provided, but we all know there’s an advice gap and the millions of savers planning to access the pension freedoms who will make decisions without advice in the future. They need more support and practical help as soon as possible to help them make better choices and get better financial outcomes. My thanks to Clare Hawkins for chairing Guiide through this transitional period. Clare remains as a non-executive director on the Board”