Aviva has partnered with Ortec Finance to enhance its financial planning proposition and help close the advice gap.
Aviva will use Ortec Finance’s OPAL platform to create an integrated and end-to-end digital guidance and advice solution supported by human advisers.
The insurance giant said the move marks a “meaningful step” in its commitment to close the advice gap, enabling its planners to scale their financial advice offering and make advice more accessible for Aviva customers.
Mark Glover, head of wealth management UK & Ireland at Ortec Finance, said: “The UK market is entering a new phase, shaped by targeted support and a growing expectation that advice can be delivered at scale. Aviva is taking a leading role in that transition. We are proud to provide an end-to-end solution that enables advice to remain consistent, transparent and evidence based as it reaches a much broader population.”
Ortec said its wealth management software OPAL uses institutional-grade forecasting and optimisation to help advisers, wealth managers and banks monitor their clients’ investment portfolios through updates that track the conditions and outlook of financial markets.
By embedding advanced modelling into the advice journey, Aviva is able to support more informed decision-making, especially at critical moments such as retirement.
Riaan de Bruyn, director of consumer wealth at Aviva, commented: “Closing the advice gap is one of the most important challenges our industry faces and it is imperative that Aviva helps our customers achieve the financial and retirement outcomes they deserve.
“At Aviva, we’re clear that personalised guidance is critical to drive engagement at scale and the Targeted Support regime will further enable us to address the advice gap with clear suggestions for customers to engage with their pensions and take their next steps with confidence.
“But we believe that financial advice remains the gold standard for more complex needs and that advisers play a vital role in giving our customers the confidence to make these important life decisions.
“Our partnership with Ortec Finance reflects our ambition to serve this customer need across the guidance and advice continuum.”
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