View more on these topics

Edeus launches two saving products with Newcastle BS

Edeus has launched two savings products with Newcastle Building Society which includes a guaranteed minimum return account.

The firm is also offering a 50:50 balanced FTSE account. Both savings products, introduced through Edeus, will give intermediaries a proc fee of up to 2.75 per cent of the deposit.

Edeus says that since none of the capital is directly invested in the money markets, 100 per cent of the capital deposit is secure. It says that intermediaries do not need FSA investment permissions or to produce a Key Features Document as the products are sold on an informed choice basis.

The Guaranteed Minimum Return Account offers index-linked growth for 5 years.

The 50:50 balanced FTSE account also offers index-linked growth for 5 years on 50 per cent of the capital invested, with the other 50 per cent deposited in an easy access account paying a fixed 7.50 per cent gross/AER for the first 12 months and tracking BBR for the remaining 4 years. 

The ‘FTSE Tracker Account’ also offers a Cash ISA option.

Edeus managing director Alan Cleary says: “The key to survival in the current market is flexibility and this move allows us to support mortgage intermediaries by providing an additional lucrative revenue stream. The 2.75 per cent proc fee could provide approximately as much commission on a £10,000 investment as would have been earned on a £100,000 mortgage.”


Rocky mountain high

Investors in US funds may have been tempted to cut their losses and run recently but those funds which can diversify into Canada have fared well.

The colours of money

Ethical investing has become part of the mainstream market over the last few years as financial institutions have competed to launch products designed to invest in socially responsible or ethical companies.


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