View more on these topics

Drawdown level is IFAs&#39 decision

I was pleased to see that Nick Bamford (Money Marketing, May 31) has recognised the benefit of our new simple charging structure for drawdown contracts. However his suggestion that we set £250,000 as the minimum entry level is misleading.

While in many cases it is advisable to have substantial sums in a drawdown contract, we do not have any minimum contribution levels. As our products are all sold via IFAs, the question of minimum entry levels is one for them to decide.

This will be dependent on a number of considerations, including level of income required and other sources of income that their clients may have. In some instances, these factors may override the problems usually associated with investing lower amounts in an income-drawdown contract.

However a key point that we have always stressed is that the quality of independent financial advice is vital when recommending drawdown, which is why we believe that advising on income drawdown should become a permitted activity.

Also, on the question of protected rights transfers in, we are able to accept these into our drawdown contract via a very strong multi-manager personal pension plan. This gives clients access to a wide range of investment funds, by 18 of the leading UK fund managers Mike Kellard

Sales & marketing director

Winterthur Life, Basingstoke


Product Matters

Yorkshire Building Society is considering making a radical change to the way in which it pays procuration fees to mortgage introducers. Instead of the fee being paid in full on completion, Yorkshire proposes to reduce that amount and then pay smaller payments for each year the borrower remains with Yorkshire. The move is obviously designed […]

HSBC – Isa Plus

Tuesday, 12 June 2001.Type: Dublin based closed ended fund for HSBC customers Pep maturities.Aim: Growth by investing in HSBC UK equity growth 3.Minimum investment: £3,000.Investment split: 100 per cent in HSBC UK equity growth 3.Yield: 75 per cent of growth in FTSE 100.Charges: None.Commission: Initial 3 per cent.Tel: 0800 181890. 

Minor problem with hot potato of Pet plan

So, stakeholder pensions are now with us. No doubt there will be many teething problems, even in the simple situation of someone wanting to effect a stakeholder pension scheme for their own benefit. What of the well publicised situation of effecting a stakeholder pension scheme on behalf of someone else, specifically a minor? We have […]

Hedge funds to take central role in investment

Hedge funds will become a mainstream force in UK investment and should be regarded as a fourth core asset class, according to Henderson head of marketing Sarah Speake. Speake says: “From the research we have seen, by 2005, hedge funds will represent 14 per cent of funds under management in the UK.” The prediction comes […]

The Great British Break-Off

Despite predictions that a vote to leave the European Union would result in an economic apocalypse, UK equities have shown the market equivalent of a stiff upper lip: bouncing back, keeping calm, and carrying on. Although the road towards Brexit remains clouded in uncertainty, UK equities offer a range of opportunities to investors seeking returns […]


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