Direct annuity provider

DullGreyGuy

Random Q, trying to second guess something, which annuity insurers offer a direct to consumer sales process or at least own their own tied agent that does as part of their group?

DullGreyGuy

No one knows? Not even @dunstonh or the other IFAs?

Hoenir

Insurers will deal direct. Though will take an awlfull lot of legwork to go through all the permutations. 

xylophone

https://www.which.co.uk/money/pensions-and-retirement/options-for-cashing-in-your-pensions/annuities/buying-an-annuity-avADx2D7VpOD#stepbystep-guide-to-buying-an-annuity

might help.

dunstonh

Hoenir said:

Insurers will deal direct. Though will take an awlfull lot of legwork to go through all the permutations. 

Most of them don't.  Not that there are many to select from now.    Those that do often take a higher commission than the IFA fee (so give a worse outcome)

which annuity insurers offer a direct to consumer sales process or at least own their own tied agent that does as part of their group?

Just have a small sales force.   Aviva have an in-house team but check marketplace.   Royal London have a tie up with a third party company on commission basis.

SL, SW & L&G, Canada Life I don't know if they offer direct.

Quite a few of the occupational pensions have got into bed with third party companies to arrange annuities on a non-advised basis but collect a commission.

DullGreyGuy

dunstonh said:

Hoenir said:

Insurers will deal direct. Though will take an awlfull lot of legwork to go through all the permutations. 

Most of them don't.  Not that there are many to select from now.    Those that do often take a higher commission than the IFA fee (so give a worse outcome)

which annuity insurers offer a direct to consumer sales process or at least own their own tied agent that does as part of their group?

Just have a small sales force.   Aviva have an in-house team but check marketplace.   Royal London have a tie up with a third party company on commission basis.

SL, SW & L&G, Canada Life I don't know if they offer direct.

Quite a few of the occupational pensions have got into bed with third party companies to arrange annuities on a non-advised basis but collect a commission.

This almost certainly is in house team rather than a third party... still a reasonably long list with Just, Aviva, Standard Life, Scottish Widows, L&G and maybe Canada Life. Thought it'd be shorter. 

FIREDreamer

DullGreyGuy said:

dunstonh said:

Hoenir said:

Insurers will deal direct. Though will take an awlfull lot of legwork to go through all the permutations. 

Most of them don't.  Not that there are many to select from now.    Those that do often take a higher commission than the IFA fee (so give a worse outcome)

which annuity insurers offer a direct to consumer sales process or at least own their own tied agent that does as part of their group?

Just have a small sales force.   Aviva have an in-house team but check marketplace.   Royal London have a tie up with a third party company on commission basis.

SL, SW & L&G, Canada Life I don't know if they offer direct.

Quite a few of the occupational pensions have got into bed with third party companies to arrange annuities on a non-advised basis but collect a commission.

This almost certainly is in house team rather than a third party... still a reasonably long list with Just, Aviva, Standard Life, Scottish Widows, L&G and maybe Canada Life. Thought it'd be shorter. 

These are the only providers on Hargreaves Lansdown Annuities. Usually Just gives the higher annuity, sometimes significantly so, but Scottish Widows gives a higher annuity today. 

DullGreyGuy

FIREDreamer said:

DullGreyGuy said:

dunstonh said:

Hoenir said:

Insurers will deal direct. Though will take an awlfull lot of legwork to go through all the permutations. 

Most of them don't.  Not that there are many to select from now.    Those that do often take a higher commission than the IFA fee (so give a worse outcome)

which annuity insurers offer a direct to consumer sales process or at least own their own tied agent that does as part of their group?

Just have a small sales force.   Aviva have an in-house team but check marketplace.   Royal London have a tie up with a third party company on commission basis.

SL, SW & L&G, Canada Life I don't know if they offer direct.

Quite a few of the occupational pensions have got into bed with third party companies to arrange annuities on a non-advised basis but collect a commission.

This almost certainly is in house team rather than a third party... still a reasonably long list with Just, Aviva, Standard Life, Scottish Widows, L&G and maybe Canada Life. Thought it'd be shorter. 

These are the only providers on Hargreaves Lansdown Annuities. Usually Just gives the higher annuity, sometimes significantly so, but Scottish Widows gives a higher annuity today. 

Thanks but Hargreaves are an intermediary, was only looking at insurers offering direct to consumer offering to try and figure something out (not in the market for buying an annuity myself for at least another decade or two)

ian16527

Use HL to check the best quotes that day then contact the provider direct.
I used L&G direct

dunstonh

ian16527 said:

Use HL to check the best quotes that day then contact the provider direct.
I used L&G direct

What commission did L&G take?