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Challenge to prove you are fit for new pensions

Leading pension IFA Informed Choice managing director Nick Bamford is challenging fellow advisers to answer 20 questions, aimed at proving they are fit to advise on stakeholder.

With the industry just four weeks away from the official launch of stakeholder on April 6, Bamford says unless IFAs can correctly answer the 20 questions published in this week&#39s Money Marketing, they should not be advising on them.

Bamford says his questions highlight the level of complexity the Government&#39s “simplified low-charging pension plan” has added to the realm of retirement planning advice.

He says: “In my view no one should be providing advice on the highly complex subject of stakeholder against personal pensions unless they can acquit themselves in this test.”

To put yourself to the test and prove you are ready to advise on stakeholder, Bamford says you should be able to answer all 20 questions in 40 minutes or less.

l Stakeholder test, p52


Chancellor backs IFA commission attack

The retail investment industry is now facing a Myners-style investigation, following attacks on IFA commission and with-profits policies in the Myners report.The Chancellor announced in this week’s budget that the Treasury has accepted the recommendations of the Myners report, and will carry out a separate independent review on personal investment products.The review is set to […]

Edinburgh Fund Managers – Edinburgh Leveraged Income Trust

Wednesday, 7th March 2001.Type: Split-capital investment trust.Aim: Growth and income by investing in high yield split-capital investment trusts and UK-quoted smaller companies.Minimum investment: Subject to negotiation with stockbroker.Maximum investment: None.Investment split: Split capital investment trusts and other high-yielding investment trusts 75 per cent, UK-quoted smaller companies 25 per cent.Types of share: Ordinary shares, zero-dividend preference […]

Take a positive view of review

The forthcoming review on polarisation could be divisive and damaging with a negative impact upon all parts of the industry. However, have we fully considered that this could be an opportunity to work co-operatively? It could have a positive effect on the image of the whole sector, and reduce the blood pressure of those working […]

Close fund management goes for the feelgood factor

Close Fund Management is striking while the iron is hot by introducing the first fund to track the forthcoming FTSE4Good UK index.The fund is an open ended investment company (Oeic) that will track the index, and is aimed at investors who want to place their money in a socially responsible area of the market. The […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


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