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Broker

Is stakeholder still an important part of your pension offering?

Yes “I have a lot of clients in the garage trade and it is useful for them if they are moving in and out of employment.”

Martin Cox, Freeman and Associates

No “I have not done an individual pension for three years. Most of my clients are older and have established pension schemes but I am concerned about younger people who are just starting out and are not investing in them.”

David Goodman, David Goodman Limited

Yes “The commission level is low on pure stakeholder products but insurance companies have got around this by generating a higher commission for intermediaries by offering a higher annual management charge. We still have room for stakeholder.”

Matthew Noblet, Shirebrook Financial Services

Yes “Stakeholder has been a failure but it has driven down costs, indirectly affected products across the pensions spectrum and it is an important aspect of pensions advice.”

Stephen Gamble, Stephen Gamble IFA

Yes “We have never had a problem with stakeholder. I can see why many firms did experience problems because of the low commission structure but now many are offering a dual structure or 1.5 per cent.”

Jack Joseph, Marlyebone Financial Services

No “Not really. Not that many of our clients can afford fees and many pension products, including stakeholder, have commission structures that are not attractive. It is regrettable the way it has gone. It would have been nice to see a better solution created that still allowed room for advice.”

Martin Element, Streets Ahead Financial Consultants

No “Stakeholder is a load of rubbish.”

Amit Parikh, A K Parikh

No “Most of my clients are wealthy and prefer Sipps to be honest.”

Kenny Jackson, independent IFA Money Marketing welcomes readers’ letters for publication. Letters should be sent to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX.

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