View more on these topics

&#39IFAs should look to aid employers on reviews&#39

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.”

Recommended

Nationwide, Portman and Chelsea prime carpetbagger targets

At least three major building societies are under renewed attack this year from carpetbaggers looking to trigger windfalls for members. They include the UK&#39s biggest society, Nationwide, as well as the Portman and Chelsea societies. Last month, Nationwide gave the go-ahead for a conversion vote at its July AGM despite not needing to put forward […]

Edinburgh Fund Managers awarded new bank mandate

Edinburgh Fund Managers has been awarded a £25m mandate from Bank of Bermuda. Edinburgh will take over the management of the active UK equity portfolio, part of Bank of Bermuda&#39s All Point Multi-manager product offering. The appointment was the result of a search carried out by Bank of Bermuda&#39s manager research team, with the assistance […]

FPS Group appoints non-executive chairman

FPS Group, specialist provider of pensions administration and pension services, has appointed Paul Simpson as non-executive chairman of its holding company board. An actuary by profession, Simpson has left the Prudential Group, where he was one of the key founding executives of Prudential&#39s online bank Egg. FPS Group chief executive Richard Stirrup says: “Paul is […]

Bristol & West choose three way Tessa Isa

Bristol & West has introduced a five-year individual savings account (Isa) to take advantage of the numbers of investors with tax exempt small savings accounts (Tessas) that are due to mature in 2001. The five-year Tessa Isa is linked to three separate indices, the FTSE 100, the Nikkei 225 and the Eurostoxx 50, and will […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment