Embark Group (Embark) today announces that Embark Platform is rebranding as Scottish Widows Platform, ahead of a programme of activity designed to support advisers and their clients. Embark will write to all advisers on the platform in the coming months to explain next steps.
The rebrand is a change of trading name and branding only, with the platform provider Embark Investment Services Limited (EISL) remaining. Account names will change to Scottish Widows, however, there will be no changes to adviser terms of business or client terms and conditions, and user IDs and passwords will stay the same.
Scottish Widows, whose parent company Lloyds Banking Group acquired Embark Group in February 2022, has significant investment plans in place for the platform. This will include improvements to payment functionality, charging capability and new investment solutions. New client management and advice tools will also be launched, making it easier for advisers to support clients simply and efficiently.
Embark can also confirm that Advance by Embark –an adviser platform acquired by Embark in 2020– will close later this year, with accounts automatically transferring to the Scottish Widows Platform.
Jackie Leiper, Chief Executive Officer, Embark, commented:
"The combination of our modern platform and products with Scottish Widows’ strength, support and experience will allow us to deliver a better range of products and services for advisers and their clients. We are committed to continuing to invest in our business, our technology and in our intermediary relationships."
For further information, please contact:
The Agency Partnership (Embark Media Relations)
Email: [email protected]
About Embark Group
Embark Group is a fast growing, diversified, financial services business and one of the leading retirement solutions providers to the advised and institutional markets in the UK.
We work closely with financial advisers and businesses to deliver their long-term savings and investment propositions to UK consumers through our investment platform and range of multi-asset funds, pensions, fund research and consultancy services.
Embark Group has more than £35.6bn in assets under administration on behalf of c.385,000 individual clients, operating across eight UK locations (London, Bolton, Dundee, Edinburgh, Leeds, Leicester, Salisbury and Swindon). Embark has been recognised in the WealthTech100 as one of the world’s most innovative WealthTech companies for five consecutive years.
In January 2022, Embark became part of Lloyds Banking Group, a leading UK based financial services group providing a wide range of banking and financial services.
All figures as of January 2023.
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