Scottish Life is targeting the income-drawdown market with the launch of five new investment portfolios for its governed range.
The new governed retirement income portfolios, due to be launched on 29 August, are diversified, multi-asset portfolios and are designed to meet the needs of people who want take regular income from their pension.
The provider is also launching a drawdown planning tool designed to help advisers establish clients’ attitude to risk and the impact of drawing different levels of income from their pension pot.
Scottish Life investment marketing manager Lorna Blyth says: “Income drawdown advice is a complex area. It is vital for advisers to understand and manage the risks involved, document their process and clearly communicate the benefits and risks of a particular drawdown investment approach.
“The new range will sit alongside Scottish Life’s current income drawdown offering, Income Release.”
Radcliffe & Newlands chartered financial planner Mel Kenny says: “Rather than relying on their existing one-size-fits-all governed portfolios, these income-focused portfolios are a further demonstration of Scottish Life’s intent to remain a major player in the drawdown market.”