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Chelsea Financial Services joins ‘financial Facebook’

Chelsea Financial Services joins ‘financial Facebook’

Chelsea Financial Services has joined the Retirement Income Alliance, which was labelled ‘financial Facebook’ by the organisation’s chairman.

Chelsea Financial Services will contribute to the design of the service and to the web content of Retirement Income Alliance as partner.

Malcolm Small, executive chairman of the RIA, said: “We already have a number of individual charter partners on board, potential users of the service who will steer the design and content of what we do, so that we know that what we are going to offer will be fit for purpose from the start.

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“Chelsea are the first ‘corporate’ to do so.

“We expect that our charter partners will translate into an advisory board after launch. They will also receive public recognition for their role in a dedicated page on the website.”

Mr Small said that other charter partners are expected to join in the coming weeks.

Darius McDermott, chief executive of Chelsea Financial Services, said: “Getting good information to consumers about all the options they have for income generation in later life, enabling them to make better choices and have better retirements, is very much something Chelsea signs up to.

“Being involved from the outset will give us confidence in promoting membership to our clients.”

The RIA site is under construction at present.

In January this year, the new proposition which had been branded by its Mr Small as ‘financial Facebook’ had a targeted launch date of April this year, in “ideal circumstances”.

At that time Mr Small said he planned to launch an online, membership-based financial community, which will provide guidance.

He told FTAdviser the launch of the site was in response to people starting to think about what their future looks like in terms of later life.

ruth.gillbe@ft.com