View more on these topics

Annuity row breaks out over Partnership outsourcing deal

Just Retirement has castigated Partnership’s decision to team up with Origen in an annuity outsourcing deal.

Outgoing chief executive Mike Fuller says the arrangement is a “retrograde step” for enhanced annuity provider Partnership.

Fuller says: “I think Partnership has got this completely wrong. It is not logical from a treating customers fairly viewpoint, a retail distribution review viewpoint or any other viewpoint. It is going to get left high and dry. It is a retrograde step and the commission has to be paid for by somebody.

“We need to make it easier for the client and te IFA to get to the end result cost-effectively and that is where we are going to take the market this year.”

Partnership managing director of retirement Andrew Megson says: “We are striving to ensure people with small funds are able to access products provided by companies other than the one they have their pension with. This means consumers with small pension funds are able to access the enhanced annuity market in a way which would otherwise not be available to them.”

Origen head of retirement strategy Rob Tinsley says: “We are trying to increase the number of people who take up the Omo and ensure that they see an improvement in their income and access to advice where they want it.”


Vestra aims to boost hedge ability for offshore funds

Discretionary manager Vestra Wealth Management is looking to strengthen its hedge fund expertise to bolster the firm’s offshore range. Managing partner David Scott says offshore money comprises 30 per cent of new business. He says: “We are looking to boost expertise in the offshore area. There is a dearth of people who are specialists at […]

Metlife: Alico deal still up in the air

Tax dispute could delay £9bn Alico sale

The £9.5bn sale of AIG-owned Alico to Metlife may be delayed due to a tax dispute, according to US press reports. The Wall Street Journal says the deal is expected to be pushed back due to confusion over the interpretation of tax rules which the Internal Revenue Service may need to make a ruling on. […]

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. David Trenner - Intelligent Pensions 26th February 2010 at 8:07 am

    On most of the cases I have looked at Partnership’s rates are lower than those from Just. This deal looks to be a good way for them to get business on inferior rates.

    Given the commission rates quoted it looks like a good deal for Origen too.

    So, good for the Provider, good for the Adviser … and who cares about the Customer??

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm