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Zurich soft-launches retail platform

Zurich building 480

Zurich has soft-launched its retail platform to 16 adviser businesses including four SimplyBiz member firms.

The FNZ-powered platform soft-launched last week and the firm says the wrap will be rolled out to the wider market at the end of November.

SimplyBiz members will have direct access to the Zurich platform through its financial planning and front office systems, provided by Distribution Technology.

Zurich head of wealth propositions Adrian Nash says: “Our new retail platform, the Zurich Intermediary Platform, is now live. We have listened to advisers and understand their concerns about this market and what they need from a platform.

“The fact that we have the financial strength of Zurich Group behind us, and that we are committed to the platform and advisory market for the long term, makes us a force to be reckoned with.”

The platform will include a cash account, cash Isa, stocks and shares Isa, investment account, retirement account and an offshore bond through a link to Zurich’s international portfolio bond.

The platform has access to over 1,400 mutual funds provided by around 75 fund managers.

Zurich originally intended to launch the platform in the final quarter of last year but delayed the launch until the second half of 2012.

In July, Money Marketing revealed Zurich was set to operate a tiered charging structure on its retail platform with families allowed to combine assets from three generations to benefit from lower charges.

A training document showed investors with assets worth up to £50,000 will be charged 0.45 per cent. For assets of between £50,001 and £100,000 the charge will be 0.325 per cent, assets between £100,001 and £250,000 will incur a 0.3 per cent charge and for assets between £250,001 and £1m the charge will be 0.25 per cent. A charge of 0.2 per cent will be applied to assets worth over £1m.

Zurich says the document is only a draft training aid and it will reveal details of charges when the platform is rolled out to the wider market.

In June, Money Marketing revealed Zurich was in discussions with SimplyBiz chairman Ken Davy’s restricted national proposition Sandringham Financial Partners about being placed on the firm’s platform panel.


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There is one comment at the moment, we would love to hear your opinion too.

  1. Glad to see that Zurich are doing things the way they always do – slowly slowy catchy monkey and if it is simimlar to other things they do it will be good. They may be slow off the mark but better doing that and getting it right first time.

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