Aegon has enhanced its adviser experience with the introduction of cash ringfencing during the switch journey.
The new feature is available via the Aegon Retirement Choices and One Retirement platforms.
Designed to simplify and optimise the process of withdrawing funds, Aegon said this development will ensure greater ease and consistency in transactions for both advisers and their clients.
Users will be able to efficiently allocate cash from the proceeds of a sale to fund SIPP tax-free cash; regular income from SIPP drawdown, GIA or ISA; and platform, advice and DFM fees.
In addition, Aegon has introduced a pension income reliability feature so that clients will receive their regular drawdown income as expected even if sell transactions have not yet settled.
Stephen Crosbie, managing director – adviser platform at Aegon, said: “We understand the importance of receiving payments on time. That’s why we’ve developed these improved measures to protect payments of regular income and drawdown, which ultimately help avoid foreseeable harm. By removing barriers, we are facilitating a smoother interaction with our platform and helping advisers to provide optimal service to their clients.
“These enhancements are just the beginning. We’re dedicated to excellence and are working hard to ensure our platform works hand in hand with the needs of advisers. Watch out for more updates, there’s plenty ahead as we continue on our transformation journey.”
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