Invesco has partnered with Just Group for the launch of a proposition that enable advisers to blend model portfolios and secure lifetime income.
The new Retirement Solution allows advisers to tailor secure income and stock market exposure to meet the client’s risk needs, and to adjust this over time.
Invesco and Just announced a strategic partnership in June and have been working with investment platforms and risk-rating agencies on bringing this proposition to market. The solution is risk-rated by Dynamic Planner and is available to advisers via the 7IM platform, with further platforms coming soon.
By combining the model portfolio and secure income element, and embedding flexibility, Invesco believes it achieves a better retirement experience for investors as well as ease of use for the adviser, with both the model portfolio and SLI, unlike an annuity, housed inside a SIPP wrapper on the platform.
Kate Dwyer, head of UK distribution, Invesco, says: “With people living for longer, there is a need for greater flexibility to manage risks and generate income. Combining traditional investment portfolios and guaranteed income in a holistic way can yield a better outcome than an approach which simply bolts the two together. By thoughtfully considering both components and how they complement one another upfront, a solution can be created that is greater than the sum of its parts. Through the partnership with Just Group we have managed to achieve just this.”
Owen Thomas, head of UK wholesale distribution, Invesco, says: “With our Retirement Solutions models, in partnership with Just Group, we believe we have designed a go-to solution for the adviser market. This proposition comes close on the heels of the launch of our Summit Income fund, which we brought to market in June of this year, further demonstrating our commitment to serving the needs of our clients across their investment lifecycle.
Kavi Myladoor, retail retirement income director, Just Group, says: “We have worked with Invesco to combine a guaranteed income producing asset, delivered by our SLI solution, with Invesco’s model portfolios in a highly efficient, flexible and differentiated way. The development of a purpose-built solution that combines both elements and can be held within the SIPP drawdown wrapper has been shown to increase the probability of delivering higher long-term portfolio value, higher income and a more sustainable plan. It gives both advisers and their clients confidence they can navigate successfully the financial challenges of retirement.”
