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Companies considering corporate wrap prospects

The corporate wrap sector looks set to flourish, according to Axa Distribution Services.

Axa DS director of marketing and distribution Martin Jennings says corporate wraps are not far from being a reality. He says: “Current market offerings have the majority of functionality required to deliver huge benefits for both employers and employees. Within a short per- iod of time and a modest amount of development, I believe you will see an array of new corporate platforms.”

Novia chief executive Bill Vasilieff says a number of companies are already assessing this area.

Money Marketing revealed last month that Friends Provident is looking at launching an employee benefits wrap proposition after conducting research with potential members on developments in the corporate platform space.

Vasilieff says: “I think others are looking at the corporate space as an unexploited market, including current players in group pensions because this is their traditional space.”

But Transact head of marketing Malcolm Murray says: “While it behoves all operators to constantly look at new markets, some cynics might say they would be better off concentrating on making their current offerings more successful.”


ASA finds chaser ads misleading

The Advertising Standards Agency upheld a Lloyds TSB complaint over advertisements by Debt Free UK, a claim company, which suggested credit cards or loans taken out before April 2007 could be unenforceable.


Is FSA a law unto itself?

Like many of my industry colleagues, I strongly suspect the reason the FSA has refused to release details of the legal advice it received over the 15-year long stop is that it did not actually take any. It was just an internal decision presided over by the mandarins at Canary Wharf without reference to anyone else.

Fitch downgrades West Brom

Fitch Ratings has downgraded West Bromwich Building Society’s individual rating and placed it on negative ratings watch.


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