FT Adviser (08/08/2019) – Aegon is developing a function on its platform to allow financial advisers to put clients into different model portfolios within the same tax wrapper, allowing for a ‘bucket’ approach to retirement planning.
A company representative said the service, which is not currently offered, is something presently being worked on, but declined to specify a timeline.
The spokesman said: “Our focus remains on developing the platform and we’re listening and involving advisers so we can prioritise developments in the right order.”
Many platforms already offer this function, which helps advisers organise their clients’ pension investments in a number of ‘buckets’ with different priorities, while keeping the returns on the assets free from tax.
Alan Chan, an adviser at IFS wealth and pensions in London, said: “I believe it will be important for platforms to allow more than one model portfolio in a wrapper.
“This is important to cater for different goals for clients and particularly for those clients in decumulation.
“Our main platform, Transact, allows us to segment each wrapper to cater for multiple portfolios. This means we can segment their incomes for the next 1-3 years in a different model portfolio geared for income purposes and the remainder funds in a growth portfolio.”
Full article link: https://www.ftadviser.com/investments/2019/08/08/aegon-to-add-portfolio-feature-to-platform/
