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Friends welcomes Sandler, but warns on price caps

Friends Provident has welcomed the Sandler review&#39s proposals for simplification but has is warning that the imposition of the one per cent price cap of the new-style stakeholder products will not help close the savings gap.

Friends Provident managing director Ben Gunn says: “We welcome the Sandler Review and applaud the proposals for simplification and improved clarity which will help encourage the customer to save more for the future.”

The provider has also welcomed the move to include include the stakeholder product within an Isa wrapper and the recommendation that the mini and maxi Isa rules are brought into line.

But it has called for consideration of the potential damage the proposals could do to the independent sector.

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