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DBS holds back on stakeholder guide

Network DBS is refusing to construct pre-stakeholder best-buy guides for its members because it claims it does not have enough details about stakeholder.

DBS&#39s strategy is in sharp contrast to rival Misys which recently set up a pre-stakeholder panel of six so it can hit the ground running when stakeholder is introduced.

DBS says the only certainties at present are RU64 and how stakeholder fits in with GPPs.

The industry is consulting on the draft rules and guidance for the conduct of stakeholder pension business, announced last week.

DBS says it will start advocating particular products “when we know more”. It says it does not operate such panels per se, saying they fly in the face of its stance on polarisation, but it puts together product guides for members.

RU64 is the regulatory update widely interpreted as meaning consumers should not suffer any material disadvantage if they transfer their pension into stakeholder. GPPS can make an employer exempt from stakeholder.


Small hope of exemption

For many of us, stakeholder pensions have been a feature of our lives ever since the publication of the Green Paper over 18 months ago.Most big companies which have regular contact with their professional advisers are well aware of the impact of stakeholder on their businesses. It is only now, however, that significant numbers of […]

Tep market booming to £500m

The Association of Policy Market Makers says the traded endowment policy business done by its members will pass the landmark figure of £0.5bn this year.The APMM and IFAs are predicting this figure will rise substantially as more policyholders receive their endowment review letters.The association says its members have seen a rise of more than 11 […]

The net effect is grossing sales

Most recently, I found a survey by Sue Diamond, marketing and business development, in conjunction with Compass Research and Mori Financial Services most encouraging.The research, carried out in June, examines the size of the internet audience for personal finance and the experiences and desires both of early adopters and more novice users of on-line financial […]

Flemings loses high profile fund manager

Investment bank Flemings has lost one of its leading fund managers to specialist boutique Boyer Allan Investment Management. Richard Whittall is leaving Flemings only months after being awarded a seven figure bonus. He managed more than £3bn for the bank, including its £542m Save & Prosper Japan Fund. The fund is one of the largest […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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