View more on these topics

Clerical demands clear disclosure of white-labelling

Clerical Medical is calling on the FSA to bring in a tough disclosure regime if white-labelling is introduced under phase two of the polarisation review later this year.

Research carried out by the life office shows consumers are in favour of full and clear disclosure of product providers if white-labelling

is introduced.

Ninety-four per cent of those surveyed said they would want to know who was the provider of a product before they committed to buying it.

Ninety-three per cent said they would expect the retailer to accept full responsibility for the product while 88 per cent said the retailer should be made to resolve all post-sale problems.

Consumers were also asked about their overall attitude to the concept of white-labelling. All respondents said they would want to be made fully aware of the arrangement before deciding to buy.

The survey was carried out among 200 people who hold at least one out of a personal pension, unit trust, company pension, Isa, Tessa or Pep.

Pensions strategy manager Nigel Stammers says: “The research shows that consumers will demand clarity. They will expect to know who they are dealing with both before the sale and after.

“If there is anything other than total clarity, then white-labelling could be used by a less recognised brand to disguise itself by association with a well respected one.

“To overcome these concerns and retain critical consumer confidence in the financial services market, the FSA must regulate for a major level of pre-sale information disclosure of both retailer and supplier if a white-labelling regime is introduced.”

Recommended

&#39Stakeholder will be half of IFA pension business&#39

Stakeholder pensions will account for half of IFAs&#39 pension business after its launch in April, according to a survey conducted at Royal & Sun Alliance&#39s recent IFA corporate business roadshows.Almost two-thirds of the 300 IFAs who attended the roadshows predicted that stakeholder would account for half of their pension sales in the future but traditional […]

Stakeholder waiver of premium rules &#39are a hornets&#39 nest&#39

The General Insurance Standards Council says rules forcing it to regulate IFAs on sales of waiver of premium for stakeholder are a “hornets&#39 nest of complication”.IFAs must submit to two regulators if they sell waiver of premium with stakeholder after September. Advisers have been aware for a number of years that failure to offer waiver […]

Permanent&#39s critical mortgage

Moving on to the main useful features and strong points of the plan, Rutter has a list: “Moving home option, although this is pretty standard in such plans, ability to reschedule over a longer term, 50 per cent children&#39s cover, no apparent upper limit on mortgage interest rate covered and high non-medical indemnity limits.”Moore also […]

Killik & Co – Low Cost SIPP

Monday, 26th March 2001.Type: Full SIPP.Minimum investment: £5,000.Investment choice: Stocks and shares, cash, bonds and trustee investment plans.Charges: Initial £100.Allocation rates: 100 per cent.Options: None.Commission: None.Tel: 0870 0134333. 

Abe and Modi

Investment ideas to power returns

We believe the most exciting stockmarket opportunities today are in those places where a new generation of leaders are successfully transforming economies and companies in favour of investors. In a new investment guide and website, which is suitable for use with your clients, we set out our views on these reformers. Click here to find […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment