View more on these topics

Broker Talkback

Are other life offices likely to follow Clerical Medical&#39s lead and withdraw from the group pension market because of admin overload?

“Yes, but it will depend on how the market progresses over the weeks until the stakeholder deadline, which could be mayhem.” Roger Prest, Byrne Williams “I&#39m not sure. Clerical seemed to be in the thick of it, whereas other offices seem able to cope with increased business.” Simon Wells, Phoenix Financial Services “Very possibly. The 1 per cent cap means many will find staying in the market unsustainable, meaning probably only two big offices will remain.” Tony Pentland, Pentland Financial Planning “Possibly. If you think of the fact that not many employers have done anything about stakeholder yet, the run up to October will have to be managed efficiently.” Michael Alderson, Personal Investment Management “Yes. It is pretty clear some offices just cannot cope. There will be a lot of them not just closing shop but pulling out of the market.” Steven Pett, Director & Staff Benefit Services “Yes. Clerical Medical was very active in the group pension market and, if it has taken this action, it is very possible it could be seen as a lead.” Christopher Grogan, Grogan & Co “Yes. People like Norwich Union take for ever processing new business, so I can imagine others having similar problems.” Steven White, Harrison White Financial Services “Yes. They tell me they will not but I have suspicions others will follow Clerical Medical&#39s lead.”Paul Leach, Paul Leach & Co yes 87%

NOt SURE 13%


Scottish Mutual takes the dual index highway for income

The Scottish Mutual income bond is taking a dual-index road to themarket.Created as a guaranteed income bond for investors who are lookingfor a product that gives them a choice between an income andgrowth, the bond will be linked to a basket of 30 stocks chosen fromtwo indices, the FTSE 100 and S&P 500.The 30 stocks […]

Zifa mortgage network runs free roadshows

Zifa mortgage network is running a series of free roadshows next month to help brokers and IFAs develop their businesses through sales and marketing techniques. Each roadshow will feature interactive sessions with lenders from all areas of the mortgage market and an update from Mortgage Brain on the future of electronic trading. The roadshows begin […]

Julian Gibbs

Eurolife has produced yet another ingenious high-return product called the Bluechip Plus Plan. It pays 10.5 per cent a year, 0.82 per cent a month or 34 per cent growth over three years, tax-free through Isas and Peps. With the stockmarket at current levels, this can be regarded as a lowto medium-risk plan as shares […]

Despair over regulation

I read about the City Financial Partners&#39 impending endowment review and shook my head with despair – but not surprise. They blitzed their way through the industry as the Porchester Group, Merchant Investors and CFPL, misselling endowments and free-standing AVCs as they went. Now they are working for other companies in the industry. It is […]


News and expert analysis straight to your inbox

Sign up


    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 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