View more on these topics

Divorcees a &#39boom area&#39 for advisers

Pension sharing on divorce could lead to an advice boom for IFAs, according to Scottish Equitable.

In the latest of the life office&#39s Ritchie Papers, pensions development director Stewart Ritchie highlights the complexity involved in pension sharing.

He says professional advice will be essential both for divorcing partners and pension scheme trustees.

The details of pension sharing were finalised earlier this year in the form of regulations, model rules and an update from the Pension Schemes Office.

The regulations offer a new choice to ex-spouses whereby they can each secure part of the pension pot to provide them with an income in retirement.

Ritchie says divorcing partners will need advice on transferring their share of the pot to the scheme of their choice.

In a survey carried out by ScotEq among nearly 2,000 IFAs, 90 per cent agreed the rules would bring new advice opportunities.

Ritchie says: “The opportunities for IFAs are huge. As well as helping family lawyers, ex-spouses will need advice on transfers. Also, members who have given away part of their pension will seek ways of rebuilding the gap.

“IFAs should start planning now for how they intend to take advantage of this business opportunity.”


Morley poaches Henderson ethical investment specialists

CGNU&#39s investment arm, Morley Fund Management has poached seven ethical investment specialists from Henderson Investors. Clare Brook is to lead the Morley team, the position she held with Henderson. She will be joined by another fund manager Linnet Cotterill, an assistant fund manager Peter Michaelis, three research analysts, Fiona Cuthbert, Jo Johnston and Toby Belsom […]

Canada Life Annuity Growth Account – 8th June 2000

Type: Five-year annuity.Minimum investment: £35,000.Minimum age: 50.Income frequency: Choice of monthly, quarterly, half-annually or annually.Charges: None.Options: At end of term choice of another five year annuity or lifetime annuity.Commission: Initial 2 per cent, renewal 0.25 per cent.Tel: 0345 226232.

Leeds & Holbeck numbers are up

Leeds & Holbeck Building Society has announced record pre-tax profits of £13.1m for the first six months of this year. Customers’ savings increased to £2.8bn, an increase of eight per cent. Despite evidence of a slowdown in the housing market, new mortgage lending rose to £359m, an increase of 48 per cent on the same […]

Trackers lose the ascent

Tracker funds were never meant to be “all singing and all dancing” and were never seriously expected to outperform actively managed funds for long.A recent Money Marketing survey found that the top 10 Isa contracts, using projected growth rates and deducting management charges, were all tracker funds. This comes as no surprise really. Using projected […]

10 September thumbnail

Johnson Fleming set to hold auto-enrolment support webinar

Two years since the process of auto-enrolment began, the looming re-enrolment deadline provides the perfect opportunity to assess whether the support you have in place, which may well have been hastily selected at the start, is fit for purpose. Johnson Fleming is holding a webinar on 10 September at 11:00 to discover the key issues and concerns you should consider when thinking about your current support options.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm