Turo for Master Trusts, a new solution for master trusts to help members increase engagement with their pension and to help schemes grow their AUM, has been launched by Wealth Wizards.

Turo for Master Trusts is a consumer-led and human-assisted solution designed to increase engagement from the point of enrolment, by offering easy to follow consumer-led guidance and regulated, codified advice on areas such as consolidation and contributions.

The advice is automated, with the member able to be triaged to a ‘human’ adviser should they have more complex needs.

The solution also aims to bridge the financial education gap that exists amongst many master trust members who are usually automatically enrolled into a pension scheme and often need help and guidance on how to save and plan for retirement.

Initially members are taken through a ‘financial health check’ to help them understand their financial commitments and retirement goals. They are then presented with a series of recommendations to help them improve their current financial wellbeing and make realistic plans to achieve their desired retirement lifestyle.

According to Wealth Wizards, members can continue to manage their pension even if they move to a new job, as Turo will still be available to them to continue their financial wellbeing journey.

The solution also enables Master Trusts to re-engage with deferred and returning members, who may previously have had minimal engagement with their pension schemes.om multiple devices.

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