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Homebase picks Friends

Friends Provident has won the mandate to supply stakeholder schemes for employees of DIY retailer Homebase.

Homebase employs around 17,000 staff who are eligible to join the stakeholder scheme, including 3,500 in its existing defined-benefit scheme. The mandate includes the facility for employees to transfer benefits from Homebase&#39s existing scheme into the stakeholder scheme.

Employees will be able to take out a regular-premium pension deducted from salary on special terms negotiated by Homebase&#39s adviser, KPMG. The scheme invests 100 per cent of contributions, has a 0.45 per cent annual charge and a choice of 14 investment funds. These include three lifestyle strategies to match members&#39 risk profile throughout their career.

Friends Provident managing director Ben Gunn says: “We are obviously delighted to add another household name such as Homebase as a stakeholder client. We have the products, the systems and the resources capability to meet the stakeholder requirements of employers and affinity groups.”


Towry set for Singapore

Towry Law International is expanding in Europe and Asia with new offices in Spain, Ireland and Singapore.The European offices, due to open early this summer, add to the company&#39s presence in Brussels and Cyprus. TLI wants to build a salesforce of 125 account managers in mainland Europe by 2005.The Singapore office will open by the […]

Three-quarters of firms see no benefits to depolarisation

Three-quarters of IFAs see nothing to welcome in the FSA&#39s proposed changes to polarisation, according to the report by George Street Research.Respondents were asked to state what are the most welcome aspects of the changes and 154 out of 204 companies said they could not see any positive aspects in the proposals.The prospect of moving […]

Treasury clears up loan confusion

The Treasury has moved to clarify industry confusion over whether life offices&#39 tied sales forces and other appointed representatives will be able to advice on other lenders&#39 mortgages under future regulation. Its Regulating Mortgages consultation document states an “authorised independent mortgage intermediary…could not continue to be an appointed representative for other activities”. The Treasury has […]

Close Fund Management – Close US Index Growth Fund

Wednesday, March 13, 2002Type: Investment trustAim: Growth linked to the S&P 500 indexMinimum investment: Lump sum £5,000Maximum investment: NoneInvestment split: 100% linked to the S&P 500 indexTypes of share: Zero-dividend preferenceIsa link: YesPep transfers: YesRedemption date: March 19, 2007Charges: Initial 4%, annual 0.4%Commission: Initial 1%Tel: 0800 269824

Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]


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