Just Retirement in enhanced deals for 'disenfranchised'
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Just Retirement says it is close to agreeing deals to provide enhanced annuities to the clients of up to nine firms, including insurers and closed life offices.
Just Retirement, which was bought by private-equity firm Permira for just under £230m in September, has developed a streamlined service for advisers who want to refer on customers with small pension pots and is likely to use this service in future tie-ups.
Head of annuities Peter Ellis says: “We have been looking at ways to take cost out of the process for IFAs and have come up with a number of initiatives designed to give them a more simple method of doing business, particularly focusing on smaller funds.
“We are also working with a number of firms to deliver a similar proposition to groups of customers who are probably disenfranchised and have never had an IFA. Some will be with closed life funds while some will be with open life offices that do not want to bother with annuities. We are also talking to affinity groups, which have access to our sort of audience but are not in financial services. We will be announcing these relationships in January and February.”
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Readers' comments (2)
Anonymous | 17 Dec 2009 1:57 pm
It's just the thin end of the wedge. They're trying to cut out IFA's. We have the power to react by not using them.
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Anonymous | 17 Dec 2009 2:28 pm
I think the article makes it quite clear that they are looking to help IFAs assist those with smaller pension funds. Looking to help those who have not had access to IFAs previously is hardly "cutting them out".
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