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&#39Handful of firms left in the savings market in five years&#39

Scottish Widows predicts that Sandler&#39s recommendations will trigger a further wave of consolidation in the savings industry, leaving only a handful of companies in the market in five years.

Brand and network director David Graham says Sandler&#39s report calls for increased competition in the savings industry while imposing price caps which require providers to be large-scale to be profitable.

He predicts that companies will need a market share of 8-15 per cent to make a profit, which does not allow for many players. Small companies will be snapped up, particularly fund management companies which he believes will be forced to merge with bigger life companies.

Graham says fund management companies have success when they are small but are not so successful when they reach a certain size. However, he believes there is nothing stopping big companies offering boutique-style products.

He says: “The 1 per cent infection will spread upwards to more expensive products. I think there will only be between five and eight companies left. Fund management companies like Fidelity and Newton will continue to be successful but others will have to be adsorbed. But there will always be room for specialist boutiques.”


Ill at ease

A friend is receiving statutory sick pay from his employer. My employer would commence SSP arrangements after 40 working days&#39 absence. Having considered this carefully, I would prefer, both as an individual and as one of the management team at my employer, for more generous arrangements to be in place. What options are available to […]

Rayne supreme

After a barren spell, the Diary has been made awareof some more hidden talents in the crazee world of financial services. In this case, though, the talent has actually won something. Congratulations, then, to 20-year-old Close Fund Management sales & marketing assistant Gabrielle Rayner, who won the British National Irish Dancing competition two weeks ago […]

Slander and Pickle show

So, now we know. The long-awaited Sandler and Pickering reviews have emerged from their long gestation period.They have already got their nicknames. An IFA community up in arms about the threat from Sandler have nicknamed him “Slander” for the way they feel he has unfairly portrayed their industry and good old Pickering, who you thought […]

Sedgwick and Grace link

National IFA Sedgwick has signed a deal with long-term care specialist Grace Consulting which will see a joint referral service set up between the two firms.Consumers with general financial planning and queries about funding care will be put into contact with an RI from Sedgwick while those with more general concerns about care and what […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


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