Retirement specialist Simply Group has organized a brand new strategic partnership with asset supervisor Invesco to launched a retirement answer designed to take a seat inside a SIPP.
It will deliver collectively Invesco’s mannequin portfolio service (MPS) and Simply Group’s assured revenue producing asset, delivered by its safe lifetime revenue answer.
Collectively they purpose to supply Monetary Planners and advisers entry to a versatile proposition aimed to fulfill the wants of modern-day retirees.
The companies stated the proposition will present uncorrelated assured revenue whereas decreasing the dependence on withdrawing revenue from a development portfolio by retirement.
Simply Group’s safe lifetime revenue is designed to take a seat inside a SIPP, serving to advisers to mitigate key retirement dangers, equivalent to longevity, sequencing danger and unknown life occasions.
Kate Dwyer, head of UK distribution at Invesco, stated: “We imagine Invesco can play an necessary position in driving innovation and supporting advisers on the subject of managing the dangers to their purchasers’ revenue throughout decumulation.”
She stated the 2 propositions, at present solely accessible individually, will work collectively to present suggested purchasers the choice to have the assured revenue of a secured lifetime product whereas getting the potential development advantages of a mannequin portfolio, with the flexibleness to reinvest the revenue they don’t instantly want.
Kavi Myladoor, retail retirement revenue director at Simply Group, stated: “The suitability of funding portfolios to help purchasers who’re spenders, moderately than savers, is in focus and underneath scrutiny by the conduct regulator.
“The wants of those purchasers and the funding dangers they face are very totally different when taking an revenue and persevering with to speculate for development. They want retirement targeted funding options.”
