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MGM Advantage joins forces with SimplyBiz

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MGM Advantage, the retirement income specialist has partnered with SimplyBiz Group (SimplyBiz) enabling their advisers to offer five new Verbatim funds in addition to the existing seven funds for its investment backed annuity. 

The MGM Advantage Flexible Income Annuity is an investment-backed annuity that allows clients to choose their investment strategy and income levels at various stages of their retirement from a range of funds.

Verbatim provides advisers with a bespoke risk assessment tool enabling them to thoroughly assess clients’ risk profiles and then accurately match them to the right fund and asset allocation. The Verbatim funds are managed by experienced fund managers, including Henderson, Schroders, Ignis and Architas.

The existing MGM Advantage Flexible Income Annuity funds are managed by Jupiter, Newton, JP Morgan, Vanguard and Insight Investment.

Aston Goodey (pictured), Sales and Marketing Director, MGM Advantage, says: “Partnering with SimplyBiz means we can now offer a wider choice of funds to their clients, further enhancing the flexibility of our investment-backed annuity.

“With rising inflation and falling annuity rates, retirement income is being thoroughly squeezed. We are able to offer people the opportunity to accept levels of risk they are comfortable with to try and protect against these pressures, along with the flexibility to change their income levels at key stages of their retirement.” 

Neil Stevens, Joint Managing Director of SimplyBiz and MD of the firm’s investment group, says: “We’re delighted to be working with the team at MGM to deliver cost effective and client centred investment solutions within an innovative retirement product. Our two organisations share an ethos of putting the advisers’ knowledge of their particular client at the centre of product and investment design.”

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