CGNU launches first phase of online wealth management initiative

Article date: 30 May 2001

  • Launch of first phase of norwichunion.com - an online wealthmanagement service from CGNU
  • Customers will be able to manage money and assets moreeffectively and efficiently online
  • A fund supermarket and share dealing service will be launchedin 2001 - the first in a range of products that will subsequentlyinclude banking products.
  • Part of a £250 million investment in wealth management to theend of 2002 by CGNU

CGNU launched today the first phase of its new wealth managementservice, 'norwichunion.com'. As part of the planned phased launchof the initiative, customers initially will be able to access acomprehensive range of interactive financial planning tools andimpartial money guides, including:

  1. A sixty-second financial wealth check - visitors to the sitecan start here to check which areas of their personal finances mayneed attention.
  2. The wealth maximiser - a detailed financial planning serviceto help people work out what they may need to do to become betteroff.
  3. My wealth manager - an online income and expendituremanagement system and investment tracking service where users canupdate, monitor and manage their overall financial position andnet worth.
  4. Money news - up-to-the-minute money news from FT.com.
  5. Knowledge centre - containing a wealth of straightforward andimpartial information on personal finance topics, with a plainEnglish jargon-buster.

The next phase of 'norwichunion.com' will be the launch of afund 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 anotherstep in our strategy of broadening further our multi?channeldistribution reach. With this high quality offering and our brandstrength we have a real competitive advantage in this rapidlygrowing market."

Nicholas Smith, Managing Director, norwichunion.com, added:

"Half of the UK's internet-connected community* already do theirown research into financial products online. norwichunion.combrings together the power of the internet and one of the UK's mosttrusted financial brands to help people make better financialdecisions. It will appeal to everyone who wants to take a moreactive 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:

  1. The value of investments can go down as well as up.
  2. Norwich Union Wealth Management Limited is regulated by thePersonal Investment Authority for investment business.
  3. A photograph of Nicholas Smith is available from www.newscast.co.uk.

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