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Equity release firm appoints investment administrator

Equity release firm appoints investment administrator

Equity release and retirement income company Retirement Advantage has appointed Mobius Life Administration Services as investment administrator.

Mobius will administer Retirement Advantage’s retirement account product, which combines an annuities and drawdown and with its flexible income annuity product range.

The firm will provide a complete investment administration service, including processing daily dealing instructions, blended fund rebalancing and calculating of daily unit prices.

Additionally, Mobius will provide daily, monthly and annual reports on the fund range and will support Retirement Advantage to launch new products and services.

The products will be administered using the investment platform technology from Mobius Life Group, which is used by pension schemes, investment managers and life companies to administer over £9bn in assets.

Chris Evans, group chief executive at Retirement Advantage, said: “As the market for investment backed retirement income solutions continues to grow, we needed to find a scalable solution to manage the investment admin for the products we offer.

"Mobius has impressed us with not only their service capability but also importantly their governance processes, reducing our exposure to risk. This relationship will also help us bring developments on our Retirement Account platform to market more efficiently.”

ruth.gillbe@ft.com