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Aegon reveals details of self-direct service for advisers

Aegon has revealed its plans for a new service to allow clients to self-direct their investments whilst retaining an adviser relationship.

The new proposition, launching early next year, will sit alongside the existing Arc platform and is aimed at allowing clients with smaller amounts of investable assets to invest directly whilst pointing them to the adviser as they accumulate wealth. 

The service will include Aegon branding with advisers given the option to co-brand the online system. Advisers will not have to pay a fee for the service with clients paying the usual Arc platform charges. 

Clients will be signposted to speak to their adviser as they encounter changes in their financial circumstances or lifestyle.

The system will offer layers of access with clients either allowed to invest directly themselves or simply monitor their investment performance, depending on what the adviser agrees. 

Aegon chief executive Adrian Grace says the new service is designed with the growing client usage of mobile and tablets in mind. 

He says: “If you’re not going to have your platform on a tablet you’re in trouble. If it’s only on a computer, it isn’t going to work. It’s got to be on a mobile and it’s got to be on a tablet.”

He adds that the proposition should help to introduce advice as savers reach retirement to clients who might otherwise have become orphaned.

He says: “Our proposition is based around the needs of our customers, but the advised market is absolutely crucial to our success. We have built our new proposition with a shared experience in mind and with clear advice points, where we believe advice is essential. 

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. We use several WRAPs and Platforms for market segments. Transact works fully on android handheld devices so provided I can get internet access I can manage a client remotely anywhere in the world (I can’t in other parts of the EU without breaching cross border rules).

    We also use ARC and can access a fair bit of what I need on a mobile device using android such as google nexus, but ARC is desigend with a need for several things like flashplayer which I can’t get to work right on android. so there are limitations that ARC need to address. There is also the issue of them (unlike Transact) only allowing clients to hold UK shares and for Group Scheme members which have demutualisation shares quite often, you’d be surprised how many ask if they can put their Santander Shares on their WRAp only to be told NO becuase they are on the Spanish exchange.

  2. Oh yes and Sammedia’s MONEYINFO works with TRANSACT, but not with ARC which is a pity as the two woudl make a good match for Group scheme members, especially bearing in mind this article http://www.moneymarketing.co.uk/news-and-analysis/wrap-and-technology/john-greenwood-a-quantum-leap-in-the-corporate-wrap-market/2001839.article

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