Openwork to launch new annuities panel
Openwork is launching a new annuities panel, featuring a number of leading providers, to augment its existing annuity referral service, Openwork Market Solutions.
The new panel, due to be unveiled to advisers at the 2011 Openwork National Conference on Thursday 20 January at the ICC in Birmingham, will include major providers Just Retirement, Prudential, MGM Advantage and LV=.
Each panel provider offers a different type of annuity, enabling Openwork advisers to secure for their clients the most favourable outcome in a variety of circumstances. Products available include:
- Just Retirement – Enhanced Annuities
- Prudential – Income Choice Annuity (linked to Pru’s With-Profits fund)
- MGM Advantage – provides access to a range of unit-linked funds including JP Morgan, Newton, Jupiter Merlin, Vanguard and Omnis
- LV= – Protected Retirement Plan, a fixed term annuity-style product that gives a choice of term, income and death benefits at the start of the plan, plus a guaranteed maturity value paid if the client survives until the end of the term
The panel will be launched to advisers through a series of nationwide road shows starting Wednesday 2 February. Thereafter Openwork advisers will be able to operate the new panel while continuing, wherever necessary, to refer cases to Openwork Market Solutions, Openwork’s annuity specialist IFA.
Graham Angell, Pensions and Investment Proposition Director, Openwork, says: “In Openwork Market Solutions we already possess one of the UK’s leading annuity specialists but we are keen to accommodate advisers who would prefer to offer advice in this market themselves.
“By offering access to a number of leading providers and products we believe the new panel gives advisers another string to their bow and will allow them to bolster their own propositions in the run up to the RDR. We expect the panel to prove popular with our advisers and its launch further demonstrates the strides Openwork is making to enhance the range of services and products it offers network members.”