·Launch of first phase of norwichunion.com – an online wealth management service from CGNU ·Customers will be able to manage money and assets more effectively and efficiently online ·A fund supermarket and share dealing service will be launched in 2001 – the first in a range of products that will subsequently include banking products. ·Part of a £250 million investment in wealth management to the end of 2002 by CGNU
- Launch of first phase of norwichunion.com - an online wealth management service from CGNU
- Customers will be able to manage money and assets more effectively and efficiently online
- A fund supermarket and share dealing service will be launched in 2001 - the first in a range of products that will subsequently include banking products.
- Part of a Ł250 million investment in wealth management to the end of 2002 by CGNU
CGNU launched today the first phase of its new wealth management service, 'norwichunion.com'. As part of the planned phased launch of the initiative, customers initially will be able to access a comprehensive range of interactive financial planning tools and impartial money guides, including:
- A sixty-second financial wealth check - visitors to the site can start here to check which areas of their personal finances may need attention.
- The wealth maximiser - a detailed financial planning service to help people work out what they may need to do to become better off.
- My wealth manager - an online income and expenditure management system and investment tracking service where users can update, monitor and manage their overall financial position and net worth.
- Money news - up-to-the-minute money news from FT.com.
- Knowledge centre - containing a wealth of straightforward and impartial information on personal finance topics, with a plain English jargon-buster.
The next phase of 'norwichunion.com' will be the launch of a fund supermarket and share dealing later in 2001.
Richard Harvey, Group Chief Executive, CGNU plc, said:
"The launch of the first phase of norwichunion.com marks another step in our strategy of broadening further our multi?channel distribution reach. With this high quality offering and our brand strength we have a real competitive advantage in this rapidly growing market."
Nicholas Smith, Managing Director, norwichunion.com, added:
"Half of the UK's internet-connected community* already do their own research into financial products online. norwichunion.com brings together the power of the internet and one of the UK's most trusted financial brands to help people make better financial decisions. It will appeal to everyone who wants to take a more active role in managing their finances."
Customers can register free at www.norwichunion.com.
The fund supermarket is operated by NUSOF.com Limited.
Enquiries:
Media:
Sue Winston Head of Media Relations +44 (0)1603 684 224
Alex Child-Villiers Financial Dynamics +44 (0)20 7269 7107
Analysts:
Steve Riley Investor Relations Director +44 (0)20 7662 7544
* Forrester Research, January 2001
Notes for Editors:
- The value of investments can go down as well as up.
- Norwich Union Wealth Management Limited is regulated by the Personal Investment Authority for investment business.
- A photograph of Nicholas Smith is available from www.newscast.co.uk.
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