Canada Life becomes first retirement provider to launch funds managed by Brewin Dolphin

• Launch of 14 exclusive insured pension funds managed by Brewin Dolphin
• A choice of active or passively focused multi-asset funds that are risk-adjusted for different risk profiles
• Investment strategies aligned to Brewin Dolphin’s Managed Portfolio Service
• The funds are reviewed and re-balanced monthly and sit within the Canada Life Retirement Account Core fund range

Canada Life has launched an exclusive range of 14 pension funds managed by wealth manager Brewin Dolphin. This is the first time a retirement provider has partnered with Brewin Dolphin’s Managed Portfolio Service (MPS) outside of a fund platform. The ‘CanLife Brewin Dolphin¹’ funds are a range of seven active and seven passively focused multi-asset insured options that are risk-adjusted for different risk profiles.

Exclusively available within the Canada Life Retirement Account, a stand-alone pensions saving and drawdown product which uniquely offers a guaranteed income, the new funds give advisers flexible access to insured funds which align to Brewin Dolphin’s industry-leading Managed Portfolio Service.

The ‘Canlife Brewin Dolphin’ funds can be mixed and matched with other funds from The Retirement Account range (or combined with guaranteed income) to provide a bespoke savings and income solution for clients which is currently not possible using a platform approach.

The ‘Canlife Brewin Dolphin’ funds offer clients a number of benefits over typical DFM arrangements, including:

• 100% FSCS cover on insured funds while the client still receives the benefit of Brewin Dolphin’s investment expertise
• Blending of funds, allowing the adviser to use a range of funds rather than just operating one mandate within a DFM, while also having the ability to blend active and passively focused versions of the funds
• Ability to target a specific fund or funds for withdrawals or fees
• Lower cost solution, cost effective fund management fees
• Reduces burden on advisers through less reporting. With the insured funds solution there is no MiFID DFM reporting (for example 10% drop) and reduced adviser reporting as the client is invested in one fund (or a number of the 14 funds) rather than a DFM portfolio of numerous assets.

Sean Christian, MD and executive director of Canada Life’s wealth management division, said:
“Our strategic partnership with Brewin Dolphin signals a step-change in our take to market strategy for the Retirement Account. By working with an industry leading wealth manager, for the first-time, advisers have access to insured funds in a retirement and decumulation proposition which has the platform functionality without the associated cost.

“We’ve made significant enhancements to the Retirement Account this year, and alongside the launch of these funds, advisers will see we are serious about helping provide better retirement outcomes for their clients.”

Antony Champion, head of intermediaries, Brewin Dolphin, commented:
“We’re so pleased to offer our award-winning investment expertise to leading retirement provider, Canada Life. The 14 ‘CanLife Brewin Dolphin’ pension funds are managed by our Investment Solutions team and combine our asset allocation expertise with our investment selection. The new funds will mean more choice, flexibility of access, and good value for advisers’ clients.

“The days of encashing at retirement are long gone for most people. There are a variety of options for people to save and then access retirement income in later life, which makes the need for professional advice all the more important.”

Enquiries:
Press enquiries should be directed to:
Paul Keeble, Canada Life / paul.keeble2@canadalife.co.uk / 07833 085387
Richard Janes richard.janes@brewin.co.uk / Tel. +44 (0) 20 3201 3343

Notes for editors:

1. For full details on the 14 funds please go to https://documents.canadalife.co.uk/canlife-brewin-dolphin-funds-adviser-guide.pdf?_ga=2.231641631.18702670.1604931372-1165240000.1603275963

Disclaimers:

• The value of investments and any income from them can fall and you may get back less than you invested
• The opinions expressed in this document are not necessarily the views held throughout Brewin Dolphin Ltd.
• Past performance is not a guide to future performance
• We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such securities from time to time. In addition we reserve the right to act as principal or agent with regard to the sale or purchase of any security mentioned in this document. For further information, please refer to our conflicts policy which is available on request or can be accessed via our website at www.brewin.co.uk.
• This information is for illustrative purposes only and is not intended as investment advice
• No investment is suitable in all cases and if you have any doubts as to an investment’s suitability then you should contact us.
• If your clients invest in currencies other than their own, fluctuations in currency value will mean that the value of their investment will move independently of the underlying asset.
• Brewin Dolphin is authorised and regulated by the FCA (Financial Services Register reference number 124444)

About Canada Life:

Canada Life is part of a group of companies controlled by Great-West Lifeco Inc., a diversified financial services holding company headquartered in Winnipeg, Canada. Through its subsidiary companies, Lifeco has operations in Canada, the United States, and Europe. Great-West Lifeco and its insurance subsidiaries have received strong ratings from major rating agencies. Great-West Lifeco has over 30 million customers worldwide and £987 billion assets under administration (as at 30 June 2020).

Canada Life Limited began operations in the United Kingdom in 1903 and looks after the retirement, investment and protection needs of individuals and companies alike. As well as providing stability and security through its individual contracts, Canada Life Limited has grown to become the leading provider of competitively priced group insurance solutions. Canada Life acquired Retirement Advantage on 3rd January 2018 for an undisclosed sum. The acquisition added over 30,000 retirement income and equity release customers and more than £2 billion of assets under management including a £1.5 billion block of in-force annuities to Canada Life.

Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority. Canada Life International Assurance Limited and Canada Life International Assurance (Ireland) DAC are authorised and regulated by the Central Bank of Ireland.

www.canadalife.co.uk

About Brewin Dolphin

Brewin Dolphin is a UK FTSE 250 provider of discretionary wealth management. With £46.7* billion in total funds, it offers award-winning personalised wealth management services that meet the varied needs of our clients including individuals, charities and corporates.

We give clients security and wellbeing by helping them to protect and grow their wealth, in order to enrich their lives by achieving their goals and aspirations. Our services range from bespoke, discretionary investment management to retirement planning and tax-efficient investing. Our focus on discretionary investment management has led to significant growth in client funds and we now manage £40.6* billion on a discretionary basis.

Our intermediary business manages £14.2* billion of assets for over 1,700 advice firms either on a discretionary basis or via our Managed Portfolio Service.

In line with the premium we place on personal relationships, we’ve built a network of 33 offices across the UK, Jersey and Dublin, staffed by qualified investment managers and financial planners. We are committed to the most exacting standards of client service, with long-term thinking and absolute focus on our clients’ needs at the core.

www.brewin.co.uk

*as at 30th June 2020