View more on these topics

Abbey Nat links to offer Family bonds

Abbey National has linked up with friendly society Family Assurance to provide tax-exempt savings bonds to its customers.

The companies claim this is one of the first partnerships to capitalise on the relaxation of polarisation started by the FSA in April.

Under the new rules, tied product providers, including banks and building societies, can introduce other companies&#39 regulated products and services to their own customers by direct mail and advertising on a non-advised basis.

Abbey has started a direct-mail campaign targeting selected customers for the Family Bond and Junior Bond savings plans from Family Assurance.

The Junior Bond is intended for adults to take out for a child to help them save£10 to£25 a month or£105 or£270 a year. The Family Bond is for adults wanting to invest£15 to£25 a month or an annual lump sum of between£150 and£270

Both products are linked to Family Assurance&#39s Sovereign 3 Fund.

Family chief executive John Reeve says: “Only friendly societies can offer these extra tax-free savings plans free from income and capital gains tax.”

Recommended

Norwich & Peterborough – Three Year Fixed Rate Bond

Wednesday, 4 July 2001.Type: High interest account.Minimum-maximum investment: £1,000-no maximum.Interest rates: 5.75 per cent gross a year, 5.6 per cent gross a month.Term: Three years.Offer period: Until further notice.Withdrawal penalties: If no notice given, 120 days&#39 loss of interest on amount withdrawn unless at least £1,000 remains in bond.Tel: 0845 3002511.

SME investment service goes live

Online investment service DPO goes live today when it issues prospectuses to IFAs for its first offering, Harrogate-based media business Media Generation.The direct public offering service gives retail investors the opportunity to invest in small to medium sized companies at an early stage. Investments start at £500 and qualify for the tax benefits of the […]

Flood of IFA complaints at Cofunds admin errors

IFA fund supermarket Cofunds has had a barrage of complaints after a chain of recent admin blunders have left IFAs misinformed and out of pocket.The platform, launched in January, has more than 1,500 registered IFA users and has taken more than£100m in Isa business.Cofunds says the very high levels of business taken this Isa season […]

Bill Gates: Will appeal victory turn the tide for technology?

M&G is predicting a rosier outlook for technology funds, after a US appeal court overturned a decision which could have led to the break-up of Microsoft last week.Global technology fund manager Greg Kerr says: “This is good news for the company in that it lifts the cloud of uncertainty which has been weighing on it […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment