Aegon is considering expanding its restricted advice service, currently offering annuities, to the investment and protection sectors.
Tomorrow, the life insurer will expand the scope of Aegon Direct to incorporate clients of affinity partners - non-financial media outlets and charities - and has revealed greater ambitions for the service.
Aegon says it is considering expanding the scope of the service to other product areas, including investment and protection, if there is sufficient demand from partners.
A spokesperson for Aegon says the service would follow a similar format to Aegon Direct's annuity offering.
"If there is demand for this from our affinity partners, then we will look to add simple investment and protection products to the range. Customers with more complicated needs would be forwarded to Origen," she says.
Aegon Direct is a restricted advice service, initially offered to readers of the Telegraph newspaper, offering Aegon's range of conventional annuities, as well as enhanced annuities from MGM Advantage.
It has widened the scheme to affinity partners, enabling them to access the phone and postal-based information and advice service.
Peter Dornan, director of partnership and distribution development, says: "Not everyone has complicated retirement needs or wants or will find it necessary to use an IFA. And, for a simple annuity purchase, traditional face to face advice can be uneconomical for IFAs to provide.
"We believe this service could bring valuable advice within the reach of more people."
Annuity market worth £4bn in 2017
For ‘distress’ caused
Oversees £30bn of advised and D2C assets
Less than a third of top paid employees are women
£1bn business since inception