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40 per cent of IFAs focus on providers’ financial strength when recommending an annuity

Over 40 per cent of advisers look at the financial strength of a provider when recommending an annuity for their client, according to new research from Prudential.

Advisers also cite bonus history, 26 per cent, and fund performance as key factors they consider when recommending an annuity provider to their client.
Well known brand and service were not seen as key considerations in annuity selection, scoring less than 5 per cent of advisers’ votes.
Prudential head of retirement income Aston Goodey says: “The ability to generate cash in both good and bad economic times is coming out strongly as the key factor that advisers consider. Promising to pay an income for life is a major commitment and advisers want the confidence to recommend a company that is financially stable and has the ability to manage their clients’ pension payments and sustain competitive payments over the longer term.”


75 per cent of first time buyers have outstanding debts while saving for deposits

Research from Alliance and Leicester has revealed that 75 per cent of first time buyers hoping to buy a property in the next two years are almost 6,000 in debt.The average debt of first time buyers is 5,860 despite the fact that 70 per cent of potential buyers claim to be actively saving for a […]

The numbers game

The argument that bancassurance is threatening IFAs is tired and irrelevant

Posos could cut proc fees

The launch of instant offers in the sub-prime market could signal a reduction in proc fees for brokers, according to Openwork mortgage proposition director Paul Shearman. He believes the fact that brokers will have their work cut less with such technology means that lenders may start offering reduced fees. Some commentators have recently slammed the […]

Norbom quits Pru, Reed leaving Standard

Life office giants Standard Life and Prudential are undergoing boardroom reshuffles. Standard Life finance director Alison Reed and Prudential Asia chief executive Mark Norbom are both set to leave. Reed is leaving Standard Life after only just over a year in her role as part of a series of boardroom changes following its demutualisation. She […]


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