Scottish Life is warning IFAs they face missing out on sales opportunities in the stakeholder environment if they focus only on selling new pension schemes.
The company says the need for employers to review their pension arrangements will create widespread dem and for advice which IFAs are ideally placed to provide.
ScotLife has produced a marketing pack entitled, Targeting Existing Schemes, which sets out how IFAs should approach an area which it believes could bec ome the most profitable aspect of stakeholder.
The pack identifies how pension scheme reviews could result in increased pension contributions, more cli ents through the new requirements and additional benefits such as death in service and health insurance.
It also details the potential for IFAs in selling specialist pension planning for company directors, key employee insurance and corporate loans.
Sample mailshot material to employers and checklists to review schemes exempt from stakeholder are included in the pack, which also contains a guide to the lat est regulations.
ScotLife group pensions product marketing manager Louise Gray says: “We believe the next few months will be a very busy and lucrative time for IFAs and the pack tells them everything they need to know.
“No matter what the Gov ernment says, this is going to be a difficult and stressful issue for many businesspeople. Business managers are not pension experts so they will be looking for expert help to guide them through the process and effectively sort it out for them.”