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Vanguard second platform to join ABI

Vanguard is the second platform to join the Association of British Insurers, following Hargreaves Lansdown last year.

Vanguard launched a direct-to-consumer platform in May last year, which attracted £250m in its first five months.

The ABI started taking platform members following pension providers focusing on improving transfers and re-registration after pension freedoms.

Vanguard Europe head Sean Hagerty says: “Our membership will enable us to support and help influence government policy to encourage more people to save and invest for their future.”

He says: “As part of this, we believe investment providers must continue to lower the cost and complexity of investing. As an industry, we have a responsibility to make investing easier and less costly for investors.”

ABI chair and Aviva UK insurance chief executive Andy Briggs says: “Last year, the ABI opened its membership to platforms to reflect the increasingly important role they play in the long-term savings market, given that technology is fundamentally changing how customers interact with their long-term saving choices.”

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