Aviva Investors has launched its first-ever model portfolio service, in partnership with SimplyBiz.
The Aviva Retirement Portfolios, available on Aviva’s platform, have been created to address the decumulation market, and will be managed by Aviva Investors’ multi-asset team.
The product will be part of SimplyBiz’s range of risk-controlled solutions and is risk-profiled to Defaqto’s decumulation tool.
Davinia Rogers, investment services director at SimplyBiz, said collaboration on the project forms part of the partnership agreed last year, including “joint educational initiatives” around ESG, intergenerational advice and platforms.
“I’m confident that our members will welcome a new and innovative product from these market-leading brands, designed to strengthen the breadth of solutions available and help them continue to deliver the best possible outcomes for their clients.”
James Tothill, head of adviser sales at Aviva Investors, said: “We have worked closely with the team at SimplyBiz to develop and launch the Aviva Retirement Portfolios as part of its risk-controlled range of solutions.”
Last December, SimplyBiz’s parent company Fintel agreed a distribution partnership with Aviva Investors.
As part of the deal Aviva Investors agreed to launch a new sustainable retirement solution.
Fintel said this answered “the regulatory call for downside protection in retirement”.
The deal also means Fintel’s distribution will be accessible through Aviva and Aviva Investors. It is a subscription-based service that includes research, data, product design and targeted distribution.
In addition, Fintel said SimplyBiz member firms would also benefit from the multi-year partnership.
Aviva Investors has also licensed Fintel’s strategic asset allocation model for the new retirement fund as well as its existing model portfolio solutions.