Prudential is increasing its choice of annuity products for customers through a new distribution agreement with Just Group.
The introducer deal, effective today, doubles the range of annuity providers customers can access from three to six.
It is part of part of the company’s plan to widen the range of products and services available to customers through Just Group arm HUB Financial Solutions, which offers a regulated advice service for people who want a personal recommendation on how to use their pension savings.
Aviva, Canada Life, Hodge Life, Just Group, Legal and General and Scottish Widows make up the HUB Financial Solutions panel, giving Prudential customers complete access to all annuity providers in the marketplace.
Prudential managing director of wealth solutions David Macmillan says this agreement is important as many customers worry about running out of money and annuities are still attractive for some.
HUB companies chief executive David Cooper adds: “We know lots of people still value the security that a guaranteed income for life offers but don’t always shop around to find the best or most suitable product.
“We’ll be able to help thousands of Prudential customers understand their annuity options and then tailor an annuity to meet their personal needs by searching the whole market to find the very best deal for each individual customer.”
Just Group has been expanding HUB Financial Solutions and acquired a 75 per cent stake in Corinthian Pension Consulting to bolster advisory services it provides to defined benefit schemes.