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Invesco Launches New Retirement Solution

Amanda Cheesley Deputy Editor 4 June 2024

Invesco Launches New Retirement Solution

The firms will combine their expertise to offer greater product innovation in their retirement solutions.

Asset manager Invesco has announced a partnership with retirement specialist, Just Group, with the launch of a new retirement solution for advised clients to help meet the needs of those approaching or already in retirement.

The announcement comes in the wake of the Financial Conduct Authority's review of retirement income advice and when savers are looking for new ways to invest their money and protect their income. With people living longer and, in today’s challenging investment markets, there needs to be greater product innovation in retirement solutions – giving financial advisors flexibility when it comes to managing risks to income, the firm said in a statement.

The partnership will bring together the expertise of Invesco’s model portfolio service (MPS) and Just Group’s guaranteed income producing assets, delivered through its Secure Lifetime Income solution (SLI). Together they offer advisors access to a flexible new proposition designed to meet the needs of retirees, the firm continued.

“The two propositions, currently only available separately, will work together to give advised clients the option to have the guaranteed income of a secured lifetime product whilst getting the potential growth benefits of a model portfolio, with the flexibility to reinvest the income they don’t immediately need,” Kate Dwyer, head of UK distribution at Invesco, said.

“Combining a guaranteed income producing assets such as that delivered by our SLI solution with growth model portfolios, within the SIPP drawdown wrapper, has been shown to increase the probability of delivering higher long-term portfolio value, higher income and a more sustainable plan,” Kavi Myladoor, retail retirement income director at Just Group, added.

Invesco has offices in more than 20 countries, managing $1.6 trillion in assets on behalf of clients worldwide.

Just Group is a FTSE-listed specialist UK financial services company, focusing on individual retirement income, care and defined benefit de-risking markets, looking after £24 billion ($31 billion) of investments.

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