Schaan – November 05, 2026 -- Nearly two-thirds of insurance intermediaries expect the pension reform to have a strong or very strong impact on client advisory demand, according to a survey of 225 brokers commissioned by Liechtenstein Life Assurance AG. Of those polled, 49.3% anticipate a strong effect and a further 14.2% a very strong one. The survey was run by bbg Betriebsberatungs GmbH in August 2026.
About a quarter (24.9%) foresee hardly any change, and 0.9% expect no impact at all. Another 10.7% could not assess the effect.
Retirement depot tops the list of business-model disruptors at 57.8%
Asked which trends will most change independent brokers' business models over the next five years, 57.8% named the retirement depot (Altersvorsorgedepot). NAV remuneration and AI-based advice each drew 42.2%. Under NAV remuneration, ongoing pay is tied to the development of the insurance portfolio a broker manages.
Advice on fund portfolios was cited by 33.8%, regulatory requirements by 28.0%, and wealth succession via a fund-linked policy by 24.4%.
Brokers rank asset transfer and tax planning as top fund-policy strengths
Fund-linked policies retain clear support among respondents. Flexible asset transfer in inheritance and gift cases led at 64.9%, followed by tax structuring options at 63.1%. Lifetime annuitization was named by 57.3%.
Survivor protection (28.9%), coverage of biometric risks (21.8%) and professional advice (17.8%) ranked lower. Liechtenstein Life reads the results as showing that brokers increasingly link fund policies to services beyond pure capital accumulation for retirement.
Liechtenstein Life CEO sees depots and policies as complements
CEO Aron Veress said the depot and modern fund policies are not opposites and can complement each other depending on personal need. He described a depot as typically the ideal entry into private provision, while policies suit a much broader range of benefits. In his view, asset management inside a policy opens new advisory approaches for brokers, from ongoing portfolio adjustments to tax structuring and succession planning.
Liechtenstein Life will add retirement depots in several variants to its offering from January 2027.