Embark Group (Embark) today announces the launch of its Retirement Outcomes educational website and Investment Pathways decision tool, as it continues its drive to provide digitally-enabled solutions for the UK investment savings and retirement market.
Embark recognises that generic investment solutions are not as effective as regulated financial advice, but is required to support non-advised customers entering drawdown in making a decision on how to use their retirement savings in line with the Investment Pathways choices set out by the FCA. Relentlessly focused on delivering positive client outcomes, Embark has developed an investment proposition and associated communication strategy to support those investors who do not have access to financial advice.
The educational website launched today provides information for investors about the choices they face as they approach retirement, highlighting some of the key considerations and providing useful tools to support their decision-making.
The site links to an Investment Pathways tool that Embark developed in collaboration with Hymans Robertson, an actuarial consulting firm with a specialised digital division in the retail wealth and workplace pension markets. It allows investors to choose from four investment approaches to fund their retirement: leaving funds invested, purchasing an annuity, drawing down funds as long-term (longer than 5 years) income, or withdrawing all funds in the short-term (less than 5 years). Embark has selected BlackRock to provide the pathways funds, offering clients cost-effective investment options given its retirement investment expertise.
Embark has worked closely with partners who use its technology to ensure that these solutions meet the needs of all their non-advised clients.
Dave Lowe, Head of Propositions and Technical, Embark Group, said: “Innovation and a digital-first mindset in our approach to providing investment saving and retirement solutions in the UK market are core components of Embark’s DNA. Although we believe that investors should take financial advice when making decisions about their retirement, it is important that we support our existing customers who choose not to do so for whatever reason, and we are delighted to be working with BlackRock to deliver a cost-effective solution in support of that goal.
“Embark will continue to innovate and invest in further digital solutions for the retirement market, particularly recognising that as investors move through their retirement journey their circumstances and engagement with advice can change.
Dave concluded: “Today’s launch is a further step forward in our commitment to providing engaging and effective digital solutions for the investment savings and retirement market to facilitate positive client outcomes.”
Heather Christie, Head of UK Advisory and Platforms at BlackRock, said: “BlackRock is proud to be working with Embark to deliver digitally-enabled Retirement Pathways for the UK investment savings and retirement market. Helping non-advised savers achieve better outcomes in retirement is a critical element of our purpose which is to enable more and more people to experience financial wellbeing.”
For further information, please contact:
The Agency Partnership (Embark Media Relations)
Tel: 07880 602902
About Embark Group
Embark Group is a full-scale UK retirement solutions provider, active in the areas of Investment Platform, SIPP, SSAS, Multi-Asset Funds, Fund Research and Employee Benefits Consulting. The Group trades under the brands Embark, Rowanmoor, Vested and The Adviser Centre. It also operates a wide portfolio of white label services for business such as RBS Coutts, Standard Life, Nutmeg, BestInvest, Charles Stanley, Moneyfarm and Wealthsimple. Businesses within the Embark Group have been established in the market for more than 40 years and have a long history of working closely with intermediary distribution partners and consumers of all levels of affluence.
The Group has more than £38bn in assets under administration on behalf of c415,000 consumer clients, operating across eight UK locations (London, Bolton, Dundee, Edinburgh, Leeds, Leicester, Salisbury and Swindon). Embark has been recognised as one of the most innovative Wealth Tech companies in 2019 and 2020.
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