PlatformsMar 18 2013

Nucleus launches annuities portal

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Wrap platform Nucleus has launched an annuity portal on the platform in partnership with Spire Financial.

The portal is currently being piloted with a test group of 10 nucleus firms. If all goes well the company aims to make it available for all members later this year.

Barry Neilson, business development director at Nucleus, said: “It would give IFA users the option to do annuity business, run annuity quotes and undertake the new business processes online including health questionnaires and so on.”

The new service offers access to annuities from Just Retirement, LV= and MGM Advantage.

Powered by technology developed by Spire, the service offers an annuity quote portal, enhanced annuity quotes, automated medical questionnaire and pre-populated application forms.

Mr Neilson said: “A lot of the development that Nucleus undertakes is driven by feedback from our users. Many of the more traditional products are being reinvented to integrate within a platform.

“From the IFA perspective they are normally very keen to reduce time spent on administration processes. They can do this by doing more activities on behalf of the client on the platform.”

Nucleus previously launched a wealth protection proposition in partnership with Integrated Protection Solutions. However, Mr Neilson said no other plans are in the works for further additions.