Canada Life expands drawdown platform with 430 additional funds

Jenna Brown reports

Canada Life has added 430 funds to its Retirement Account drawdown platform, including a greater selection of ESG-focused options, bringing the total available to 1,550.

The provider said it extended the range to meet the needs of a broader range of advisers and their clients.

Funds from more than 20 different investment houses including Columbia Threadneedle, M&G, Legal & General Investment Management and Seneca are now included.

Canada Life has also added funds from major distributors including Tavistock Acumen, Sanlam, Rathbones, Tatton Investment Management, Close Brothers Asset Management and Harwood Discovery funds.

Head of investment proposition Shelley Greenwood said: “This is a major expansion of the funds available on the platform which will help us meet the needs of a much broader range of advisers and their clients’ needs. From simple, low cost insured passive investing and multi-asset approaches, to protected funds and direct access to collectives, we have most bases covered to help support advisers centralised investment propositions.”

Greenwood said the provider had also included leading ESG, impact and ethical options due to the “heightened awareness and interest in sustainable investing”.

She added adviser feedback was welcome: “Our aim is to hit 2,000 plus funds on the platform by the end of the year so if there are gaps in our investment proposition then I’d encourage advisers to contact their BDM and tell us what we are missing.”

Alongside the introduction of the extra funds, the business has also established links with Intelliflo and Origo Contract Enquiry Standard which will enable advisers to pull product valuations into 70% of back-office systems.