Wednesday, 31 October 2012 10:19
Aegon unveils RDR-ready proposition for 2013
Aegon has unveiled its RDR proposition to support advisers transitioning their business.
The firm's RDR-ready flexible pension plan and group personal pension will be available from 12 November while Aegon Ireland's RDR-ready offshore bonds and guaranteed products will be available from mid-December. The current income drawdown plan will be replaced by a new RDR-ready 'One Retirement' plan.
Core new business will be focused on the at-retirement and workplace savings markets and the firm says it is committed to providing on and off platform propositions to advisers.
It will not be offering adviser or consultancy charges on its onshore bonds, annuities, individual stakeholders, group stakeholders and individual section 32 but these products will be available at factory gate prices without any loading for commission.
The firm said it would honour existing trail arrangements where it is allowed by the regulator. It will also honour existing commission levels on auto-enrolment members to existing schemes as long as the profile of the scheme meets Aegon's minimum standards.
Gordon Greig, marketing proposition director at Aegon, said: "We recognise different advisers will continue to operate different remuneration models for the professional advice they provide post-RDR. So we need to be flexible in our approach.
"We're committed to working closely with all those advisers to help them continue to provider profitable financial advice and be able to recommends quality-solution focused products and services from Aegon, whilst meeting the new regulatory requirements."
The firm's RDR-ready flexible pension plan and group personal pension will be available from 12 November while Aegon Ireland's RDR-ready offshore bonds and guaranteed products will be available from mid-December. The current income drawdown plan will be replaced by a new RDR-ready 'One Retirement' plan.
Core new business will be focused on the at-retirement and workplace savings markets and the firm says it is committed to providing on and off platform propositions to advisers.
It will not be offering adviser or consultancy charges on its onshore bonds, annuities, individual stakeholders, group stakeholders and individual section 32 but these products will be available at factory gate prices without any loading for commission.
The firm said it would honour existing trail arrangements where it is allowed by the regulator. It will also honour existing commission levels on auto-enrolment members to existing schemes as long as the profile of the scheme meets Aegon's minimum standards.
Gordon Greig, marketing proposition director at Aegon, said: "We recognise different advisers will continue to operate different remuneration models for the professional advice they provide post-RDR. So we need to be flexible in our approach.
"We're committed to working closely with all those advisers to help them continue to provider profitable financial advice and be able to recommends quality-solution focused products and services from Aegon, whilst meeting the new regulatory requirements."
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