View more on these topics

Big two vie for stakeholder top slot

Norwich Union and Standard Life are head to head in the battle for winning stakeholder market share, controlling nearly half of IFA stakeholder business.

NU says it has more than 25 per cent of the stakeholder pension market through IFAs, with Standard saying it has more than 20 per cent, meaning that the top two companies have secured nearly half of all IFA stakeholder business.

Standard says it has more than 20 per cent of what the ABI defines as the individual pension market through IFAs. This includes personal pensions, group personal pensions and stakeholder.

NU says it has more than 16 per cent of the individual pension market through IFAs and has a similar figure for its market share across its distribution channels.

NU head of corporate pensions Iain Oliver says: “Obviously it is still early days for stakeholder but the indication is that we are the leading IFA provider for stakeholder.

“It is very important for companies to achieve the right level of market share and this set of data is very encouraging.”

Hargreaves Lansdown ret-irement planning manager Danny Cox says: “These figures do not surprise me.

“Standard was the first to bring its pension pricing down to stakeholder levels and NU quickly followed. Others, such as Clerical and Axa ,were slower off the mark, so Standard and NU had a clear headstart. Where they are leading others are following.”


Unwanted Friends

Laurie Dean&#39s client (Money Marketing, September 20) is certainly not alone in being subjected to a plague of invitations to Friends Provident IHT planning (that is, buy a bond) seminars.I have just received the latest of many. Every time this happens, I call them and suggest that reneging on their no cross-selling vows to the […]

Walter Merricks

Lives: Highgate, North LondonBorn: June 4, 1945, in East SussexAge: 56Education: Bradfield College, Berkshire and Trinity College, OxfordCareer to date: Director of Camden Community Law Centre, Writer for New Law Journal, Head of Communications at the Law Society, Insurance OmbudsmanCareer Ambition: “Very happy with whatI am doing now, thank you.”Life ambition: “To win the tennis […]

FSA sends old pension guidance to employers

The FSA is being criticised by product providers for sending employers guidance first issued in 1994 permitting them to give staff advice and information on personal pensions.Life office experts argue that the old guidance flies in the face of legislation issued recently, which requires that anyone giving stakeholder worksite presentations should be authorised.The FSA is […]

Matrix and Unicorn enjoy VCT ride

Matrix Securities has joined forces with Unicorn Asset Management to unveil the Unicorn Aim venture capital trust (VCT), This VCT will follow a similar investment strategy to Unicorn&#39s eaglet investment trust, which invests in a portfolio of quoted companies with a market capitalisation below £50m. However, it will differ from that trust by focusing on […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment