Nationwide Building Society is transferring its financial planning service to Aegon UK, its investment partner of seven years, to enhance focus on other product areas.
Facts
- Nationwide Building Society is shifting its financial planning service to Aegon UK, its investment partner for seven years.
- Less than 1% of NBS customers have investment products, prompting the move to Aegon UK’s digital platform in early 2024.
- Aegon UK has been NBS’s third-party provider for investment products since 2016, managing ISAs and GIAs.
- NBS’s in-house financial planning service is now included in Aegon UK’s responsibilities.
- NBS financial planning teams and managers will become employees of Aegon UK.
- NBS, the world’s largest building society, will focus on products like mortgages, savings, and current accounts.
- New consumer investment inquiries will be redirected to Aegon UK.
- Rachael Sinclair, NBS’s director of mortgages and financial wellbeing, expects a smooth transition due to the partnership’s history.
- Both companies will collaborate closely during the coming months to facilitate the transfer of the investment planning service.
