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Investments, Pensions, Retirement

Hub24 platform adds Challenger annuities

Investment platform Hub24 has added three annuities offerings from Challenger to its menu after first flagging their addition in the middle of last year.

The platform will offer advisers and their clients access to the Challenger Guaranteed Annuity (Liquid Lifetime), Challenger Guaranteed Annuity and Challenger CarePlus products, and also allow advisers to generate quotes, submit applications and view balances related to the products.

Hub24 managing director Andrew Alcock said the products offered regular cash flow for the retiree clients of advisers and tackled the issue of longevity risk, and also provided product options for advisers looking to recommend annuities to clients.

Challenger chief executive Richard Howes said: “Annuities were a compelling product for retirees who want peace of mind around their income and spending.

“The launch of Challenger annuities via Hub24 is an important milestone for Challenger as we work towards expanding our distribution channels and making it easier for a wider range of advisers to include guaranteed income in their clients’ portfolios through our range of lifetime and fixed-term annuities.”

Hub24 and Challenger first announced the move to add the products to the investment menu in August 2018 when they announced that annuity products offered via the platform could be purchased like any other investment on Hub24.

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