7IM has expanded its retirement proposition for financial advisers by partnering with Just to offer its secure lifetime income (SLI) on the 7IM platform.

SLI sits within the 7IM SIPP, accessed via the investment manager’s platform, and enables advisers to offer a guaranteed income producing asset alongside existing drawdown arrangements as well as other investment strategies for their clients.

The solution from Just is designed to help advisers mitigate some of the key risks associated with retirement planning, such as longevity and sequencing risk, when withdrawing from a portfolio.

7IM stated that one of the key benefits of SLI is the flexibility it offers advisers and their clients. SLI payments can be used as income drawdown from the SIPP or reinvested back into the client’s SIPP investment portfolio or a combination of both.

“We’re excited to be adding SLI to the 7IM SIPP, as creating and managing a reliable income stream for clients in retirement is an increasingly important aspect of advisers’ work, and we want to provide as much flexibility for both advisers and their clients,” said 7IM Intermediary managing director, Verona Kenny.

“Partnering with Just for this was an easy decision. Just have a great reputation for offering truly client-centric services and we’re delighted to be able to offer this innovative product through the 7IM Platform.”

Just Group managing director retail, Paul Turner, added: “The decision by 7IM to offer SLI on its platform demonstrates its astute understanding of the practical solutions advisers need in order to be able to balance the opportunities of pension ‘freedom and choice’ against their regulatory obligations to factor in their clients’ unique personal circumstances – taking into account income requirements, appetite for risk and capacity for loss.”

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