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Vanguard becomes ABI’s second platform member

The Association of British Insurers (ABI) is today announcing that Vanguard is joining up as its second Platform Member, a new category of membership established to reflect the changing nature of the long-term savings market.

The ABI’s platform membership was established last year to deal with a growing focus among pension providers on improving transfers and re-registration in the wake of the pension flexibilities.

Sean Hagerty, Head of Vanguard Europe, said:

“Through its new membership category, the ABI has rightly identified that platforms are an increasingly important part of the market and will play a significant role in changing long-term saving and the way individuals save.The harsh reality is people are not saving enough for retirement. Our membership will enable us to support and help influence Government policy to encourage more people to save and invest for their future. As part of this, we believe investment providers must continue to lower the cost and complexity of investing. As an industry, we have a responsibility to make investing easier and less costly for investors.”

Andy Briggs, ABI Chair, said:

“The ABI Board is delighted to welcome Vanguard as our newest Platform Member. Last year, the ABI opened its membership to platforms to reflect the increasingly important role they play in the long-term savings market, given that technology is fundamentally changing how customers interact with their long-term saving choices. The market is strongest when it speaks with one voice, and welcoming Vanguard into our membership will help us do just that.”

Yvonne Braun, ABI Director of Policy, Long Term Savings and Protection, said:

“There have been sweeping changes in the world of long-term savings in the past few years, and the ABI is evolving to keep pace with those changes. We already represent a significant part of the platform sector, through insurer-owned platforms and ABI platform member Hargreaves Lansdown. It is fantastic that we can now welcome investment platform Vanguard – this will strengthen our voice, so we can do the best possible job of representing the industry to Government and regulators, and putting savers at the heart of what we do.”

 

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Notes for Editors

 

About Vanguard

Vanguard is one of the world’s largest investment management companies. As of December 31, 2017, Vanguard managed $5.1 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 376 funds to its more than 20 million investors worldwide. For more information, visit vanguard.com.

 

About the ABI

The Association of British Insurers is the voice of the UK’s world leading insurance and long-term savings industry. A productive, inclusive and thriving sector, we are an industry that provides peace of mind to households and businesses across the UK and powers the growth of local and regional economies by enabling trade, risk taking, investment and innovation. More news and information from the ABI is available on our web site, www.abi.org.uk

 

Media contacts:

Caroline Hancock, Head of PR Vanguard, Europe Tel: 0203 753 6980 or caroline.hancock@vanguard.co.uk 

 

Jonathan Goodstone, PR Associate, Europe Tel: 0203 753 05158 or

Jonathan.goodstone@vanguard.co.uk

 

The ABI press team is on 020 7216 7506 or press_office@abi.org.uk

 

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Last updated 10/05/2018