Workplace platforms ‘growth area’ for IFAs: Grace
The workplace pension platform has been touted by Aegon UK’s chief executive as a “massive opportunity for growth” ahead of auto-enrolment.
Adrian Grace said further details on the platform’s proposition would be announced at its official launch in September, adding that Arc provided a customer focused proposition for employers and employees that “supports short, medium and long-term savings goals”.
Mr Grace said: “The workplace savings market is changing, driven by technology that provides intuitive and efficient retirement planning solutions. Our proposition on Arc has tackled all of these issues.”
Aegon will spend the summer months engaging with corporate advisers and fine-tuning the platform.
Mr Grace added: “This builds on our vision to become the leading player in the workplace savings and at-retirement markets by providing an integrated platform, which focuses on accumulation, consolidation and decumulation, creating a seamless transition for customers from saving towards retirement to taking an income in retirement.
“Arc for workplace enables employers to offer different solutions to suit the savings needs of their employees, within one online arrangement.”