The new annuity and drawdown blended product will be powered by GBST’s Composer platform which has been tailored to deliver the retirement planning account.
Craig Fazzini-Jones, chief operating officer, Retirement Advantage, said;
“There has been significant change in the UK market over the past year and we are committed to meeting the new demands placed on retirement providers through a broad and competitive range of products.
“The Retirement Account is our response to the new opportunities created by these changes. We are developing something which is genuinely different, offering the security, flexibility, and access clients are looking for from one product. We will continue to support financial advisers by offering their clients a compelling proposition which meets their on-going needs through retirement.”
Robert DeDominicis, Chief Executive Officer, GBST Wealth Management, added:
“The flexibility of the Composer platform and its capability to support and administer different products including annuities and income drawdown side-by-side, so will allow Retirement Advantage to continue to develop its retirement product range to meet evolving customer needs and build competitive advantage within the changing regulatory environment.”
