Aegon’s platform business has passed £2bn in assets under administration for the first time.
The figure represents combined assets on main platform services Aegon Retirement Choices and Workplace Arc, as well as assets on One Retirement, the firm’s simpler pension platform for advisers and their customers.
The Arc platform has benefitted from the introduction of simpler charges, the removal of product charges for those with invested assets of £250,000 or above, and a new fund range tailored to help advisers answer the needs of their customers.
Launched at the end of 2012, Aegon’s strategic focus moved to Arc at the start of 2013, and the platform has grown to more than £1.5bn.
One Retirement is built on the same platform technology as Arc and assets on the service now exceed £500m.
Lou Macari, Aegon’s platform strategy director, said: “Next generation technology, investment innovation and efficiency lie at the heart of our platform business’ rapid growth, but the key is to ensure the end customer’s needs are met, which requires fully supporting advisers and employers to offer the best possible pensions and investments.
“The advised market is absolutely crucial to our success, so I’m delighted that our decision to build the proposition with a shared experience in mind has worked so well.”
One Retirement’s new fund range helps advisers and their clients find the right funds faster, with a choice of Henderson Global Investors, Kames Capital, Old Mutual Global Investors, Schroders and Threadneedle Investments.
Arc also has several new investment options to improve choice and flexibility for advisers, Aegon said.
