New at-retirement firm MGM Advantage pledges IFA focus

The UK firm will now be called MGM Advantage and aims to become a top-three provider of enhanced annuities through its new Designs for Retirement operating unit. It says its IT systems have been “completely re-modernised” adding its distribution channel has been refocused to sell products through independent advisers. Former HBOS executive, Craig Fazzini-Jones, has been recruited to head the annuities business unit, reporting to Chris Evans, chief executive of MGM Advantage. Evans says: “We believe that consumers aren’t getting the widest range of options they need at retirement, so we’r...