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Financial Options and Friends Prov team up over stakeholder

Financial Options is teaming up with Friends Provident to offer its members &#39stakeholder style&#39 pensions over the internet.

The national IFA network says its aiming to offer its members and those of Investment Options and Kestrel Financial Management, a &#39stakeholder style&#39 pension well in advance of the proposed April 2001 launch date.

It believes the Government needs to increase the maximum annual management charge to 1.5 per cent to allow a budget for people to take professional advice.

The pension scheme which will be administered by Friends Provident and is only available over the internet has a 100 per cent allocation, no bid offer spread and no member or scheme charges.

It has a 1.5 per cent annual management charge, a range of investments including investment funds, with profit, UK index tracker and ethical stewardship.

It also has free investment switches and waiver of premium benefit.

Financial Options sales and marketing director Andrew Bedford says: &#34Our members are in the business of providing quality advice to clients to ensure they make adequate financial provision for the future.&#34

&#34Pension provision is obviously fundamental in that process and the agreement with Friends Provident means our members have access to another low charge modern pension more than a year ahead of the Government&#39s stakeholder launch&#34


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