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Fidelity launches UK retirement service and drops Annuity Direct brand

Fidelity has launched a UK retirement service for advisers and direct customers in the wake of the Budget reforms.

The new service incorporates Annuity Direct, the advice and whole-of-market shopping around service bought by Fidelity earlier this year. The ‘Annuity Direct’ brand has been dropped as a result.

The retirement service offers a range of guidance and support tools for individuals; a “safety check” service for self-direct customers to ensure they are not making an irreversible mistake when they buy a retirement income product; and a new retirement income select list of income-generating investments from the firm’s fund platform.

In addition, Fidelity has launched a “retirement hub” designed to help advisers explain the Budget reforms to clients.

The service will be led by Fidelity head of retirement Richard Parkin.

Parkin says: “We want to help people retire with confidence, knowing they are making the right choices for them, that they are not making any critical mistakes and that they have access to the best range of income choices. Expert help and guidance has to take centre stage.

“You only have to look to the US to see how the UK retirement market might look in 10 years’ time and the benefits that come with giving people control over their pension savings both in the run-up to and in retirement.”

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