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FSA stakeholder guidance: advice implications

The PIA has announced guidance on the important issue of giving pensions advice in the period leading up to the introduction of stakeholder pensions.

Of course, suitability continues to be the basis for any decision but encouragingly the PIA do warn against delay.

However, it is clear that the imminence of stakeholder pensions is a factor that should be taken into account when advice on suitability is being given. Advisers (tied or independent) must therefore be fully aware of the proposed shape of the stakeholder plan and keep up to date with developments.

A particularly important issue is that of exit penalties under current plans should an individual contact you and then decide to switch to stakeholder clearly an option to switch to stakeholder with &#34no disadvantage&#34 will be a highly desirable feature of any plan currently on offer.


Isas off to slow start

Sales of Isas through IFAs have got off to a very slow start, following the Pep bonanza of the last few months.The new savings account appears to be suffering from a post Pep hangover. Reported sales on April 6, 1999 their first day has been slow, Fidelity Investments who had just broken their own record […]

Sun Bank cuts mortgage rate but leaves savers unaffected

Sun Bank says lenders should be able to cut rates for borrowers without slashing rates for savers.Head of sales & marketing Chris Cummings says: &#34We have been able to cut our standard variable rate by 0.24 per cent without reducing the rates we offer our savers. I&#39m not sure why other lenders have not done […]

Key themes for 2017

Capital Market Notes, December 2016 Dave Lafferty, chief market strategist at Natixis Global Asset Management, assesses the accuracy of his 2016 outlook and provides his thoughts and outlook for 2017. Click here to read the full article


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