Celebrating excellence in the defined contribution sector, the awards are entered by a selection of the country’s best known providers.
We believe that the at-retirement solution should deliver on both a suitable investment and income sustainability. Advisers should be supported in helping their clients make the right investment choice to suit their drawdown needs, and through ongoing review can also help their clients enjoy a sustainable income in retirement.
The judges awarded us based on our decumulation proposition, which supports advisers in their drawdown discussions and helps them to review drawdown plans on an ongoing basis. The proposition consists of our five multi asset portfolios Governed Retirement Income Portfolios (GRIPs), which are specifically designed for drawdown and boast a five-year track record. The GRIPs are well diversified to deliver growth, with reduced volatility in order to cope with the effects of sequencing and inflation risk.
The judges also recognised that our solution includes tools and services for advisers to use in their drawdown advice process. Our Income Planning Tool helps advisers recommend a suitable investment solution to their clients, and helps them understand the sustainability of their income. It provides a personalised sustainability score based on the client’s individual circumstances and creates professional client reports.
Drawdown Governance Service is the final step in our at-retirement journey and is for advisers to review clients’ plans. It proactively tracks clients’ progress against their income sustainability score every quarter, so advisers can see which clients need urgent attention and can take action to help get their income sustainability back on track.
Lorna Blyth, Investment Strategy Manager, is delighted our at retirement solution has been recognised in this way: ‘There’s a huge team of people that work together to build Royal London’s at retirement solution, and we’re always striving to enhance it. We know that investing for drawdown is very different to investing for accumulation, and we work hard to offer a solution that supports advisers in helping their clients enjoy a sustainable income in retirement. To be recognised by the DC Awards is a great honour and inspires us to keep improving our decumulation proposition.”
Find out more about Royal London’s drawdown solutions.