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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 while retaining an adviser relationship.

The new proposition, launching early next year, will sit alongside the Aegon Retirement Choices 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.”

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

Arch Financial managing director Arthur Childs says: “This is a good idea and I think we will see more like it. It is helpful to have access to a service where we can effectively park clients without enough in investible assets but without losing them.”

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