Pension Products - Quantessence

Summary

This video introduces a flexible income product designed to provide retirees like Mark and Emma with guaranteed regular income while remaining invested in the markets. The product adjusts to their evolving needs, offering features such as the ability to increase income, draw down capital, and add proceeds from property sales. Through an app designed for financial advisers, the product is easy to manage and adapt as clients' life circumstances change. The platform combines open architecture, flexibility, and simplicity, ensuring a seamless experience for both clients and advisers.

Takeaways

• 😀 The product offers technological support for a wide range of financial products.
• 😀 It helps customers offer individualized post-retirement products.
• 😀 The flexible income growth product is designed for retirees seeking guaranteed income while being invested in the markets.
• 😀 The product ensures capital protection while allowing for positive returns when the portfolio value increases.
• 😀 Even if the portfolio value decreases, the customer still receives guaranteed income.
• 😀 The product allows for a lump-sum legacy to be left for beneficiaries if something happens to the client.
• 😀 Flexibility is a key feature, allowing the product to adapt to life changes such as income increases or drawing down capital.
• 😀 An app is available for financial advisers to make quick amendments to the product, providing easy management.
• 😀 Clients can modify the product as their life changes, such as increasing guaranteed income or adjusting income periods.
• 😀 The platform manages operations and connects the client with their chosen parties, ensuring simplicity and open architecture.

Q & A

What is the main purpose of the flexible income growth product mentioned in the script?

The flexible income growth product is designed to offer guaranteed regular income for retirees while allowing them to remain invested in the markets, providing both income security and growth potential.

How does the flexible income growth product protect the capital invested by clients?

The product ensures that even if the market value decreases, clients will still receive a guaranteed income, which helps protect their capital while allowing for growth if the portfolio value increases.

Can clients leave a legacy for their beneficiaries with this product?

Yes, the product allows clients to leave a lump sum legacy for their beneficiaries should something happen to them.

What features of the flexible income growth product can be adjusted based on a client's life situation?

The product is highly flexible and can be adjusted to meet clients' changing needs, such as increasing guaranteed income when markets rise, drawing down a capital sum for personal needs like helping family members, or extending the income period.

How can financial advisers make amendments to the product for their clients?

There is an app designed for financial advisers that allows them to quickly and easily make amendments to the product based on their clients' changing needs.

What happens if the clients decide to downsize their home?

If the clients downsize from a house to an apartment, the money from the sale can be added to the flexible income growth policy.

What is the role of the financial adviser in using this product?

The financial adviser decides on the product features based on their client's needs, and then manages the operations through the platform, ensuring that the product adapts to the client's life changes.

What technology platform supports the flexible income growth product?

The platform that supports this product takes care of all technological operations, leaving the financial adviser to focus on selecting the product features. It connects advisers to relevant parties as needed.

How does the flexible income growth product ensure simplicity for financial advisers?

The product is designed with simplicity in mind, using a platform that enables financial advisers to make adjustments quickly and effectively, ensuring ease of use while still offering flexible, personalized solutions for clients.

What other clients, besides Mark and Emma, could benefit from the flexible income growth product?

The flexible income growth product can also be beneficial for other clients like Albert, Anna, and Mary, as the product is adaptable to different financial needs and life stages.