Invesco, one of the world’s leading asset managers, and Just Group, a dedicated retirement specialist, today announce that their new innovative Retirement Solution, designed to meet the evolving needs of today’s retirees, is now live and available to investors. Following the strategic partnership announced in June, Invesco and Just Group have been working with investment platforms and risk-rating agencies on bringing this proposition to market. Today the solution is risk-rated by Dynamic Planner and is available to advisers via the 7IM platform, with further platforms coming soon.
Traditional retirement products have long lacked the flexibility needed to address the unpredictable realities retirees face—this new offering changes that. Invesco and Just Group have come together to create a retirement solution that provides retirees, in conjunction with their adviser, the ability to navigate these uncertainties with confidence.
This innovative solution blends Invesco’s investment management expertise with Just Group’s focus on retirement. Together they have built a retirement solution that provides both security of income and greater flexibility throughout retirement.
Kate Dwyer, Head of UK Distribution at Invesco, says: “With people living for longer, there is a need for greater flexibility to manage risks and generate income. Combining traditional investment portfolios and guaranteed income in a holistic way can yield a better outcome than an approach which simply bolts the two together. By thoughtfully considering both components and how they complement one another upfront, a solution can be created that is greater than the sum of its parts. Through the partnership with Just Group we have managed to achieve just this.”
Invesco’s Retirement Solution combines model portfolios with Secure Lifetime Income (SLI) in an intelligent, and flexible way. Typically, the decision to allocate to guaranteed income becomes separated from what happens to the rest of an individual’s portfolios. Here, the models have been designed with the guaranteed income component in mind. By combining the two, and embedding flexibility, Invesco believes it achieves a better retirement experience for investors as well as ease of use for the adviser with the model portfolio and SLI, unlike an annuity, both being housed inside a SIPP wrapper on the platform.
The solution enables advisers to tailor the mix of model portfolio and SLI to meet the risk appetites and specific income requirements of each individual client, and to adjust this over time. This means a truly personalised experience which reflects the fact that each person’s retirement journey is different.
Owen Thomas, Head of UK Wholesale Distribution at Invesco, says: “With our Retirement Solutions models, in partnership with Just Group, we believe we have designed a go-to solution for the adviser market. This proposition comes close on the heels of the launch of our Summit Income fund, which we brought to market in June of this year, further demonstrating our commitment to serving the needs of our clients across their investment lifecycle.
For us, this is about more than delivering investment propositions. This is also about delivering superior support and service to enhance the client experience. All the information an adviser needs is housed in our proprietary digitally enabled platform, called Basecamp, available for those advisers looking to invest in our range of multi asset adviser solutions. We have also this month launched a dedicated Retirement Investment Hub housing all our thought leadership, research and solutions available in retirement.”
Kavi Myladoor, Retail Retirement Income Director at Just Group, said: “We have worked with Invesco to combine a guaranteed income producing asset, delivered by our SLI solution, with Invesco’s model portfolios in a highly efficient, flexible and differentiated way. The development of a purpose-built solution that combines both elements and can be held within the SIPP drawdown wrapper has been shown to increase the probability of delivering higher long-term portfolio value, higher income and a more sustainable plan. It gives both advisers and their clients confidence they can navigate successfully the financial challenges of retirement.”
“We are delighted to be collaborating with Invesco to help deliver better client outcomes.”
