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Flexible charges for ScotEq bonds

Scottish Equitable is revamping its range of single-premium bonds to maximise flexibility for IFAs.

The new perform-ance bond will offer three different charging structures.

These are the Initial charge version, an Establishment charge version, where charges are deducted over the first five years of the bond and the Ongoing version, in which investors pay an annual management charge.

All three options offer with-profits and unit-linked funds.

Investors can choose between ScotEq&#39s internal fund range of 25 unit-linked funds as well as six externally managed funds.

Scottish Equitable had previously only offered a bond with an establishment charging structure.

The life office is upgrading its systems software to accommodate the expected new business the new range will bring in.

The platform, Unisure, is being installed to assist in Scottish Equitable&#39s drive to be a top-five player in the bond market over the next three years.

The new structures will accept additional premiums for the first time. Minimum investment is £5,000 and minimum increment is £500.

Development manager Peter Bradshaw says: “We have radically improved our single-premium range primarily to enable IFAs to meet the needs of their client base. The changes mean that IFAs have three distinct charging structures which will offer them a degree of flexibility that is highly desirable in today&#39s market.”

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