SimplyBiz signs distribution deal with Prudential
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SimplyBiz and Prudential have agreed a distribution deal which will allow members to access the PruFunds range and Pru’s Dynamic Portfolios through the support service firm’s Verbatim investment range.
Under the terms of the deal, advisers using SimplyBiz support services will be able to access PruFunds and Dynamic Portfolios available through Pru’s onshore bond and individual pension wrappers.
SimplyBiz members using Pru’s onshore bond and pension wrappers will also have access to six IM Verbatim Portfolio funds which are being added to the Pru investment fund range.
The IM Verbatim Portfolio funds will be run under an open-ended investment company fund structure.
Prudential UK intermediary sales director Rob Hickson says: “Under this arrangement we will deliver a proven solution to derisking the investment advice process for SimplyBiz members by giving them access to our investment bonds and pensions.”
SimplyBiz joint managing director and Verbatim Asset Management managing director Neil Stevens says: “Verbatim is now helping nearly 400 adviser firms from across the UK use our IM Verbatim Portfolio Funds to deliver high quality investment solutions that match a client’s attitude to investment risk, a key requirement identified by the FSA.
“We are delighted to have the support of Prudential for our Verbatim Compliant Investment Process since launch, and who are now making our suite of investment funds available across their range of quality products.”
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