Royal London has decided to shut down Money Manager (previously known as Money Vista), its personal financial planning tool.
An email was sent out to users yesterday explaining the reasons for the site’s closure, which will happen at 5pm on Friday 30th September:
Our Money Manager was designed to help people understand their finances and explore how they could get the best possible outcomes.
Times are changing. People access information anywhere now. They’re managing money on the go, and expecting simpler solutions and more focussed information. The way we save, invest and get ready for retirement have changed, giving people more freedom than ever
So we were looking to help in a different way, with online guides and tools, so you can make the most of your money.
We are closing the service as we’d like to concentrate our efforts on delivering new services that best meet the needs of our customers. We are developing a series of individual guides to keep you up to date, interactive tools to help you work out your protection needs, as well as a number of retirement calculators, so you can get the most out of your pension funds.
The tool was launched as MoneyVista back in 2012, later reverting to Royal London branding and renamed Money Manager in order to highlight its credentials as an established, respectable (and therefore trustable) brand.
Money Manager users who are worried about what happens to the data they have stored on the site are still able to login and delete any data up to 5pm on 30th September, and Royal London have said that all data will then be securely deleted.
They have put together a few FAQs about the closure.