Just Retirement, which was bought by private-equity firm Permira for just under £230m in September, has developed a streamlined service for advisers who want to refer on customers with small pension pots and is likely to use this service in future tie-ups.
Head of annuities Peter Ellis says: “We have been looking at ways to take cost out of the process for IFAs and have come up with a number of initiatives designed to give them a more simple method of doing business, particularly focusing on smaller funds.
“We are also working with a number of firms to deliver a similar proposition to groups of customers who are probably disenfranchised and have never had an IFA. Some will be with closed life funds while some will be with open life offices that do not want to bother with annuities. We are also talking to affinity groups, which have access to our sort of audience but are not in financial services. We will be announcing these relationships in January and February.”