LV= has today (27 January) fully launched its ‘Platform Services’ option for advisers, in partnership with technology provider Embark.
The announcement follows a 12-month controlled launch period with a panel of advisers.
Before that, in May 2023, LV= announced it was launching a new investment platform as part of its plan to “broaden access” to its range of smoothed managed fund (SMF) investments.
LV= Platform Services uses Embark’s technology to bring multiple products together in one place.
Advisers can now access insured options, like LV= smoothed managed funds, along with a choice of 5,000 funds and model portfolios from 70 discretionary fund managers available on Embark’s platform.
These are available in a wide choice of wrappers, including Sipp and Isa.
LV=’s smoothed managed funds are a range of multi-asset, risk-rated funds aimed at capital growth with minimal volatility.
The unique smoothing mechanism averages the fund’s daily underlying price over the preceding 26 weeks to establish a ‘smoothed’ fund price.
It is designed to mitigate the impact of sudden market shocks on the portfolio.
Embark’s white-label platform combines FNZ technology with a front end owned by the firm.
This means partners can benefit from Embark’s latest innovations, as well as having greater control over adviser and customer digital journeys directly through Embark.
Advisers using LV= Platform Services will also benefit from regular updates and integrations on Embark’s roadmap.
This includes drip-feed drawdown, which allows clients to gradually withdraw money from their pension pot, taking smaller, regular amounts while keeping the rest invested to potentially grow over time.
This feature is scheduled for the next major platform enhancement package due for delivery later this year.
In a post-Consumer Duty and thematic review world, financial advisers are placing extra focus on their retirement income advice propositions.
LV= said its platform is designed to meet this need.
It is backed by the financial strength of Lloyds Banking Group with a ‘superior’ rating from AKG, one of only four platforms in the market with this score.
Most recently, LV= Platform Services received a five-star rating from financial product and market intelligence business Defaqto.
Embark Group white label partnerships lead Daniel Giddings said: “It’s great to see LV= Platform Services live to the whole market following a successful testing phase where advisers gave it their seal of approval.
“We’re excited about further extending the platform’s capabilities and to continue delivering great results for advisers.
“We’ve invested heavily in our white-label services to make sure we provide market-leading technology and robust systems that people can rely on.
“It’s that blend of innovation and consistency that we think sets our proposition apart from the rest.”
LV= sales director Gwen Haggo added: “The launch of LV= Platform Services is an exciting time for us and marks a key milestone in enhancing our adviser digital journey.
“Accessing LV= Smoothed Managed Funds has never been easier for advisers. Our new digital platform enables us to partner and integrate with more adviser firms and offer our Smoothed Managed Fund range to enhance their current centralised investment and retirement propositions.
“We’re delighted that LV= Platform Services has successfully launched, and we look forward to more exciting developments from our partnership with Embark in the future.”
Is that the old Zurich Advice platform fairly heavily charged