Aegon is looking at developing an online direct-to-consumer proposition for orphaned clients and providing preferential levels of service to advisers that use the Aegon Retirement Choices platform.
The insurer plans to make its direct service available for advisers to refer lower value clients they no longer wish to serve.
Aegon UK managing director of retail and intermediaries Duncan Jarrett says: “We are currently investigating how we could build a digital self-service solution for those customers who no longer have an adviser.
“We are also looking at ways to work with advisers who may wish to offer this same solution to those of their clients who they can no longer afford to serve profitably.”
Jarrett says there a number of firms the company has “close working relationships” with and that the company plans to “cement those relationships further”.
He adds: “We will continue providing excellent levels of support and service to all other firms and will continue to develop simple, technology-led ways of engaging and interacting with everyone we do business with.
“Where an adviser has or is going to take the ARC platform we are committing to face-to-face business development teams alongside a full implementation and training team to help advisers embed the platform in their business.”
Money Marketing revealed in June that Aegon was closing all of its regional sales offices as part of a major restructure, resulting in up to 160 job losses. Aegon said it was focusing resources on ARC, and
has since doubled the size of its platform implementation team.
Page Russell director Tim Page says: “In the post-RDR market, everything is up for grabs and the gloves are off. Traditional providers like Aegon are looking for a solution to serve clients in the new environment.