Scottish Widows enhances adviser offering with Embark acquisition

Scottish Widows will leverage Embark’s platform and product capability to digitise its Retirement Account as well as improving how it works with advisers.

Advisers will also benefit from smoother sales and onboarding of new clients whilst being able to manage existing clients’ needs more efficiently.

Antonio Lorenzo, chief executive of Scottish Widows, said: “There’s an ever-growing customer demand for clear, simple and affordable financial planning and retirement products and services, and our acquisition of Embark will enable us to enhance our intermediary proposition and, modernise the way Scottish Widows works with intermediaries, recognising the continued value of advice.”

Jackie Leiper, pensions and distribution director at Scottish Widows, added: “We know that digital engagement is key to helping people visualise their financial future and this acquisition offers huge potential for us to take our retirement proposition to the next level.

“It’s more important than ever that advisers supporting clients in navigating long-term savings decisions are supported by the right products and services, and this will help us build the best possible experience for intermediaries to meet their customers’ evolving needs, expand our distribution reach and boost our capability to unlock new opportunities, backed by the deep-rooted trust in our brand.”