AllianceBernstein has selected Multrees as the provider of administration and custody for its retirement income solution Retirement Bridge.
Billed as the UK’s first low-cost, flexible, default retirement income solution, Retirement Bridge offers a sustainable income solution in the early stages of pensions decumulation.
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AllianceBernstein head of pensions investment delivery David Porter said, "Retirement Bridge, built as a separately managed account service, needs effective, efficient administration and custody support. We selected Multrees as they provided the best technology and service combination allowing us to offer a solution that all defined contribution scheme members between 55 to 75 can access cost-effectively irrespective of the amount of their pension savings."
Multrees Investor Services founder and CEO Chris Fisher commented, "By partnering with Multrees, AllianceBernstein has found a unique way to deliver a private client level of service within an institutional investment environment. We are pleased to be supporting this smart innovation in a growing area – pensions decumulation. We see a huge opportunity as asset managers look to develop bespoke solutions for retirees that are cost-efficient, even for small pension pots, flexible and scalable."
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