Consolidating your clients' assets
Over the years, your clients can often build up a number of pension pots and investments across numerous providers. They may be unaware of the combined value of their savings or even lost track of some. So, consolidating your clients' assets onto Aegon Retirement Choices (ARC) or the Aegon Platform could be the right thing for you and your clients.
Why consolidation could be right for your clients
Our research tells us people think the main advantages of consolidation are:
- The ability to manage all assets in one place.
- Lower charges.
- Ease of tracking all funds' investment performance.
Bringing your clients' assets together onto ARC on the Aegon Platform makes it easier for you and your clients to keep track of their investments. Plus, with ARC and the Aegon Platform's tiered annual charging structure, the more assets your client has, the lower the rate of platform charge could be across each product.
To help you understand how your clients might feel about consolidation, our Consolidation factsheet shows the results of research we conducted with 1,012 people in June 2022. You'll find in-depth insight into why and when your clients might want to consolidate as well as perceived barriers to consolidation.
Consolidation may not be the best option for your clients. It’s important your clients are comfortable with the investment choices they make as they may lose features, protections, guarantees or other benefits when they transfer. The value of your client’s pensions or investments after any consolidation can still fall as well as rise and they may get back less than invested or paid in. Any new funds you move your client's money into will have their own set of risks that will be detailed in the fund information available to you.
Curious what else is available in your consolidation toolkit?
Our consolidation tools can help you identify key opportunities, get in touch with your clients and find how they could potentially reduce charges.
Spotting opportunities
Use Report Zone to access information about your clients to spot opportunities including where they can take advantage of our price caps. Read our our ARC Report Zone guide or the Aegon Platform Report Zone guide for help choosing the correct report.
Tailoring communications
Get in touch with your clients. Use our sample text to create tailored communications, for whatever stage of life your client is in.
Find ways to reduce charges
Read our ARC charges guide or Aegon Platform annual charge guide for more information about potentially reducing your clients' overall charges.
Adviser defined benefit (DB) support material
Have a look through our DB support material to help you with the suitability assessment and important areas to consider before deciding if a transfer may be suitable for your clients.
You should only recommend a DB transfer after careful consideration, following a full and thorough review by a qualified pension transfer specialist adviser. The advice process must consider the client’s circumstances, long-term financial objectives and the advantages and disadvantages of transferring in order to give your client enough information to make an informed decision. It will also include your assessment of the suitability of the receiving scheme, the investment choices, benefits, and options that are available.
What's next?
If you still need help, speak to your usual Aegon contact, visit our Support and contact page or email us at advisersolutions@aegon.co.uk.
Please don't email any personal, financial or banking information as it's not a secure method of communication. If you have a dedicated secure email service with Aegon, for example Unipass Mailock, please use this service. Alternatively, you can select one of the options below to log in to ARC or the Aegon Platform.
