Heath Lambert and Partnership launch annuity portal

Leeds-based advisory firm Heath Lambert has teamed up with Partnership to launch a direct-to-consumer annuity portal.

The portal allows consumers to go through the underwriting process, get quotes and apply for annuities in once place.

Heath Lambert's proposition provides annuities from a panel of ten providers for clients with pension pots of over £40,000.

This panel includes Aviva, Legal and General, Canada Life, Aegon, Prudential, Living Time, Hodge Life, LV=, Just Retirement and Partnership.

However, for clients with less than £40,000, it only offers enhanced annuities from Partnership and standard annuities from Canada Life.

Stuart Grennan, director of Heath Lambert, said the firm chose Partnership because it was the only enhanced annuity provider which can perform the simplified underwriting necessary to make the portal work.

Canada Life was selected for conventional annuities because it performed best across different ages and genders, Grennan said.

He added there is no minimum term deal locking Heath Lambert in to any provider. Value for money offered by providers, particularly those on the smaller fund panel, will be constantly reassessed.

The service is based on Partnership's own mortality data. Throughout the process of obtaining quotes and applying, consumers have the opportunity to contact Heath Lambert to access a fully-advised service.

Heath Lambert, which is transitioning to becoming a fee-based business, receives a commission for the placement of annuities from the providers.