Sanlam Private Wealth, the wealth management arm of South African insurer Sanlam Group in the UK, has launched a retirement income service, which allows a portfolio to be unbundled between as many tax wrappers as needed.
The service will make use of the full range of tax wrappers including ISAs, bonds, pensions and investments.
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It will offer a liability-matching model spreading client assets across a range of tax wrappers and target-dated maturity profiles.
The service, which is intended for use by financial advisers, is launched following a research that the company had commissioned from Birmingham University academic Dr Paul Cox on longevity, wealth, and risk and product complexity.
Commenting on the launch, Sanlam Private Wealth CEO Craig Massey said: "There has been a huge amount of research focusing on optimum investment strategies for the accumulation stage in an investor’s life, but very little on the topic of decumulation, which is one of the reasons why we commissioned our own academic research.
"One of the biggest challenges for our industry is how to manage drawdown money safely and sensibly for clients, particularly with the large number of retirees now opting for drawdown rather than taking annuities."
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By GlobalData
