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Primetime Retirement expands with Avelo Partnership


Retirement income specialist Primetime Retirement is expanding the distribution network for its fixed-term annuity products, which have recently been launched on the Avelo Exchange Portal.

The link with Avelo, which has 30,000 registered users and features more than 350 products from 50-plus providers, is a significant step forward for Primetime as it seeks to grow the fixed-term annuity market.
It believes the deal with Avelo, which processed over 300,000 online transactions last year, will help more advisers access the benefits of fixed-term annuities for healthy customers.
Primetime Retirement marketing director Stuart Wilson says: “We’re delighted to have partnered with Avelo to offer our fixed term annuities through the Avelo Exchange Portal. These annuities currently produce the highest income on the market for men and women aged 55, 60 and 65. Working with Avelo will allow us to offer our product range to more advisers on a wider scale.”
The Primetime Retirement Plan is a deposit-based investment which offers advisers and clients a combination of a fixed income for six years which is not affected by age or gender; and a Protected Maturity Amount at the end of the six-year term which they can use to purchase another appropriate pension product. It also offers Value Protection Plus death benefit, a valuable lump sum benefit for those looking to pass on as much of their fund as possible should they die prematurely. Commission for advisers is 2.75 per cent.
The seventh issue of the plan will also include additional income flexibility for those IFAs looking to target a specific outcome for the client.
Dave Miller, head of portal at Avelo, says: “Opportunity and choice should be available to everyone when it comes to selecting an annuity, for that reason we are pleased to give our Exchange Portal users access to the widest range of products and providers in the market.
“This partnership with PrimeTime ensures that our advisers have access to a high quality product and increased choice at a time when the annuity market is set to change dramatically as a result of the EU Gender Directive.”

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