Nutmeg is to enter the pensions market early next year with the launch of a personal pension administered by Hornbuckle.
The direct-to-consumer discretionary manager first revealed its plans for a personal pension in the summer. Hornbuckle will provide the pension trustee and pension administration services to Nutmeg, using technology developed by FNZ.
Nutmeg will unveil the costs and charges associated with the product early next year.
Nutmeg chief executive Nick Hungerford says: “Hornbuckle have proved themselves an excellent match for us. They share our vision for developing investment and pension services that are refreshingly intuitive, accessible and that give our customers value.”
Hornbuckle chief executive Phil Smith says: “Our primary market will remain the advice channel and the service that we refine and use for our digital partners will be brought into that channel and they will effectively have the best of both worlds.
“It’s not us saying we want to be Hargreaves Lansdown, equally we’re not trying to become a platform provider. We are a retirement solutions provider and that’s what we will remain but over time we will morph into a multi-channel retirement solutions provider.”