Aegon offers retirement products through Clydesdale and Yorkshire banks

  • Story by: Sharon Flaherty
  • Magazine: FTAdviser
  • Published Monday , May 12, 2008

Aegon UK has linked up with the Clydesdale Bank and Yorkshire Bank to distribute its deferred self-invested personal pension (Sipp) product to private banking customers.

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The partnership between Aegon, Clydesdale and Yorkshire Banks allows financial planners at the banks to sell Aegon UKs Flexible Pension Plan and Retirement Control Plan.

The banks' customers will have access to 9 funds run by manager of managers MLC, and 30 Aegon UK internal insured funds.

Director of partnerships and distribution development at Aegon UK Peter Dornan said: "The move will enable us to reach a broader customer base which is in line with our strategic objective of increasing market share."

The products will initially be distributed through the banks’ networks of over 70 senior financial planners across the UK.

Martin Smith head of wealth management at Clydesdale Bank, added: "We believe it is important to offer our customers access to quality pensions planning.

"By partnering with Aegon we have selected a company that will deliver a combination of industry-leading experience and an award-winning proposition."

Recently, Aegon introduced a minimum 21 day guarantee rate period on all annuity quotes. (See story here.)

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