Retirement Advantage has re-branded its entire product range to Canada Life after it was bought by the Canadian multinational in January.
As part of the rebrand, the Retirement Advantage website will close and product and adviser portals will move to the Canada Life website. Also, the Retirement Advantage Equity Release business will become Canada Life Home Finance.
The firm says new products and simpler and faster IT enabled services are in development, which will build on the product, technical and service strengths of the original Canada Life business. The firm specialises in wealth management, protection and annuities while Retirement Advantage’s expertise is in retirement income solutions.
“Since combining Canada Life and Retirement Advantage at the beginning of 2018, we have made excellent progress on our objective to integrate our skills and experience and become a leader in the broader retirement income market,” Doug Brown, chief executive and executive vice-president of Canada Life UK, said in a statement.
“We have ambitious plans which build on our heritage and strengths across wealth management, protection, retirement income and annuities and we will be launching innovative products and services which meet the evolving needs of intermediaries and their customers,” he added.
Canada Life acquired Retirement Advantage in January 2018 in a deal that saw the firm add more than 300,000 pension and equity release customers to its books. The firm’s assets under management were also boosted by £2bn, which included Retirement Advantage’s £1.5bn in-force annuity book.