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Cautious Pru plan is exclusive for Wifas and Sedgwick

Prudential is cementing its relationship with Woolwich Independent Advisory Service and Sedgwick Financial Services by offering them an exclusive structured product.

Both Barclays-owned IFAs will be able to sell the Prudential capital secure growth plan which has been designed for cautious investors following an industry trend away from with-profits towards structured profits.

Pru says the product was designed in conjunction with Wifas, and offers 100 per cent capital protection together with minimum growth of 18 per cent capped to 48 per cent after six years.

The life office has been active in seeking out distribution agreements. Its with-profits bonds are already sold by Abbey National and with-profits could soon be added to the Pru annuities sold by Zurich Financial Services.

Prudential director of distribution Nick Smith says: “Wifas has both expertise in marketing this type of product and an extensive distribution capability through its nationwide network of branches. We expect the product to appeal to cautious investors who have their money invested in deposits, unhappy with the returns they currently receive but who are not sure whether to return to the stockmarket after the volatility in the last few years.”

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