View more on these topics

L&G to launch pensions tracing service for IFAs

L&G’s Emma Byron

Legal and General’s retail retirement arm is set to launch a pensions tracing service through the acquisition of consolidation company MyFutureNow.

The deal for an undisclosed sum aims to boost Legal and General’s proposition in the retail and workplace markets.

MyFutureNow provides a service that allows customers to trace their lost or forgotten pension pots, for example from past employers.

It can be used either as a tracing service or way of creating a single dashboard view of an individual’s pension savings portfolio.

Bulk annuities offer L&G enormous opportunity

The MyFutureNow platform will become available to IFAs seeking to provide this service to their clients and Legal and General customers of retirement age who are tracing their various pension pots.

Additionally, the service can be offered by Legal and General to customers of working age who want to find and possibly consolidate their various pension pots into a single retirement savings solution.

The life insurer intends to make the service available through its defined contribution business in Q4 2019, before launching it directly to consumers through its retirement income business in Q1 2020.

Legal and General retail retirement income managing director Emma Byron says: “Making the right financial decisions at the point of retirement is often complicated – and it’s our mission to ensure that we do everything possible to make life simpler for our customers.

“They have to think about their appetite for risk, their health prospects, their anticipated life expectancy and their capacity for long-term financial decision making. Advice, tools and guidance are crucial. We believe the addition of MyFutureNow’s platform will help us in our mission to support consumers at this critical stage in life.”


RBS completes unsuitable advice redress as profits surge

The Royal Bank of Scotland is continuing its road to recovery, announcing a £1.7bn pay out to shareholders and confirming investigations into its  investment advice services are complete. Half year results this morning show pre-tax profits at the bank climbed 48 per cent to £2.7bn in the first half of the year compared to the […]

Behind the numbers: A look at sustainable funds in H1

It was another strong six months for sustainable funds in Europe. In the first half of 2019, more money poured into them and assets reached a new record. Also, more products hit the shelves, making it easier than ever to invest for sustainability and impact. Let’s start with flows. Sustainable funds pulled in net flows […]

Hot air balloons

Liontrust buys Neptune for £40m

Liontrust has agreed a deal to buy Neptune for up to £40m. The deal will see Liontrust acquire all of Neptune’s share capital, but it will also be taking on all of the fund management team at Neptune, who will move to Liontrust’s London offices. Current Neptune boss Robin Geffen is due to step down […]


News and expert analysis straight to your inbox

Sign up


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

  1. Sensible and clever move.

    • I’d love to use this to help my pre-retirement clients of all ages find their pots (not just at retirement clients). Please keep us posted Money Marketing!

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm