Pension advice requests are dominating advisers' inboxes, with 9 out of 10 new requests from clients including retirement planning questions, according to a new report.

The other most popular topics for client advice requests were investments (65%) and tax planning (42%), a report from wealth manager Charles Stanley reveals.

The report also highlighted how rapid growth in the retirement market is driving regulatory and adviser focus on retirement income propositions.

Defined contribution (DC) assets have grown by almost 30% since 2019, with the DC market estimated at £1.9trn and £220bn in drawdown at the end of 2023.

Sean Osborne, group head of sales at Charles Stanley, said: “The growth in the retirement market is truly enormous and not to be underestimated. The Consumer Duty and Thematic review of Retirement Income Advice clearly shows that this is a priority for the FCA, and there is an expectation for advice firms to develop a centralised retirement proposition that balances the need for flexibility that individuals need alongside providing a consistent approach across the firm.

“While decumulation attracts significant regulatory scrutiny, it also presents a substantial opportunity for advisers and advice firms to deliver innovative advice at this critical time in clients' financial lives.”

Three quarters of advice firms are reviewing their retirement approach following the FCA’s thematic review of retirement income advice, according to a report earlier this year from Wealthtime.

Charles Stanley’s Decumulation white paper was produced by Alpha FMC, a specialist consultancy firm. The interviewed 12 advice firms in October.