Annuity Direct is now under the ownership of Fidelity Worldwide Investment after the deal to buy the retirement specialist was approved by financial regulators.
Fidelity's move into the annuity market will see it aim to retain its existing pension clients - currently numbered at about 1.2 million - and give them access to a broad range of retirement products and guidance if they do not have access to an adviser. Fidelity also said it would work to support adviser firms serving their own clients both "at and in retirement". Annuity Direct will work with Fidelity's Personal Investing and Workplace pension customers as well as supporting advisers who use FundsNetwork. Alan Higham will continue as chairman of Annuity Direct but will also take up ...
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