28th October 2013

Aegon platform exceeds £1bn

Aegon UK’s multi-award winning platform has raced to £1bn Assets Under Administration (AUA) and is now the fastest growing platform in the market.
 
Aegon Retirement Choices (ARC) was a late entrant to the platform market, but the rapid growth since the turn of the year has been phenomenal.
 
Adrian Grace, Aegon UK CEO, shared the secret behind the rapid success of ARC, he said: “While I’m delighted we have hit the £1bn mark, it’s the pace we have built, delivered and grown this proposition that pleases me more.
 
“This has gone from a concept to a market-leading platform in the space of three years, which is quite simply unprecedented!
 
“Although we launched in the second half of last year, the strategic focus of the business only switched to the platform in 2013, therefore we have reached this milestone figure in just ten months. This is phenomenal and recent data shows that (month on month) we have the fastest growing platform in the market. *(source: Platforum) 
 
“This success is testament to the truly innovative platform we have built. We have focussed on technology, efficiency and meeting the needs of the end customer - and this has paid off in a big way.”
 
ARC was the first platform in the UK to combine an adviser platform with a workplace savings platform. The ability to switch seamlessly from accumulation to decumulation has been seen as an important development in the market, while the unique gating functionality also allows advisers to choose the level of access to give to clients and create a shared financial planning experience.
 
This unique innovation has been recognised with ARC scooping four awards at two separate platform awards events this year, taking home the prestigious titles of best new platform, best use of technology, best innovation and best workplace savings platform.
 
In 2014 Aegon is looking forward to this new business growth continuing, but will also be focussing on upgrading its existing customers onto ARC.
 
Adrian Grace continued: “This is only the start of our journey, we have extensive plans to build our proposition for customers, employers and advisers. We want all our customers to benefit from the innovation of ARC and this will be one of our key objectives next year.  
 
“Our proposition is based around the needs of our customers, but the advised market is absolutely crucial to our success. We have built our new proposition with a shared experience in mind and with clear advice points, where we believe advice is essential.
 
“This is about providers and advisers working together in the best interests of our customers.”
  
The AUA figure reached £1bn in October 2013.

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