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Aegon soft-launches platform and unveils charges

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Aegon UK has today soft-launched its at-retirement platform, Aegon Retirement Choices, to around 50 adviser firms.

The firm says the platform is aimed at enabling people to get more from their retirement investments and will roll out to the wider market in early 2012.

At launch, the platform will have around 1,500 funds in a combination of insured and authorised funds and over 2,000 investment options which it says will include ETFs, investment trusts and direct equities.

The platform has an unbundled charging structure with a tiered aggregate platform charge starting at 0.6 per cent for assets under £30,000 down to 0.2 per cent for assets over £1m.

A workplace savings facility will also be made available in the first half of next year.

The platform technology has been developed by software provider GBST while the administration is supplied by platform provider Novia.

Aegon UK platform director Gordon Greig (pictured) says: “Bringing our new platform to market is the start of a new chapter for Aegon UK. We are adopting a phased roll out approach, so will initially work with a limited cross-section of advisers who have been selected on the basis of being at different stages of developing their own business, perhaps using a platform or not.”

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