View more on these topics

Axa Winterthur updates The One

Axa Winterthur Wealth Management has enhanced its self-invested personal pension, The One from Winterthur, which it launched in November 2008.

This deferred Sipp was designed to meet clients’ changing needs within a single plan, enabling them to opt for investment in insured funds only, full self-investment or a combination of the two, so they pay only for the features they use. The insured funds option is limited relative to the full self-investment option, but costs less than full self-investment, which also includes commercial property purchase.

However, the enhancements to the plan also mean the investment choice under the insured funds option has been widened to provide access to a range of Axa funds, including those from Axa Investment Managers, selected funds from Axa Framlington, Axa Rosenburg and the Architas range of multi-manager and multi-asset passive funds.

At launch, the Sipp provided advisers with flexible adviser remuneration,a customer agreed remuneration option designed wih the Retail Distribution Review proposals in mind. Axa Winterthur has now added an initial commission option to the plan, giving advisers greater choice in how they are paid and helping them adapt to the proposed requirements of the RDR.

Finally, an online quote system has been introduced, allowing pre-sales quotes to be saved and edited online. Advisers can also use the website for client management services such as online trading, fund switching, creating investment strategies and accessing fund values.

The enhancements made to this product may keep the competition at bay, as well as supporting IFAs in the run-up to the RDR. However, advisers should note that initial commission is not available where clients upgrade to full self-investment from the insured funds option.

Recommended

Bonus taxes won’t hit £500m mark

Industry experts have branded Chancellor Alistair Darling’s decision to impose a 50 per cent tax on banker bonuses as little more than political posturing which will fail to raise the predicted revenue. The tax will affect banks offering over £25,000 in individual bonuses, with the one-off levy expected to raise £500m. The tax, which effects […]

10

PBR: Darling cracks down on salary sacrifice

Chancellor Alistair Darling has cracked down on the use of salary sacrifice for those earning more than £130,000 to prevent them getting around the reduction of higher rate tax relief on pensions.

Cable slams CGT loophole and doubts growth forecast

Liberal Democrat Shadow Chancellor Vince Cable has hit out at the Government for continuing to allow tax avoidance through capital gains tax loopholes. Speaking in Parliament on Wednesday in response to the pre-Budget report, Cable slammed Darling’s speech, citing it as “a good Budget for bingo and boilers”. He criticised Darling for not changing CGT […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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 advice.

    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

    Email: customerservices@moneymarketing.com