IFAs view alternatively secured pensions as an equally important tool for post-retirement planning as conventional annuities, says Defaqto.According to the firm’s Pensions Report, 55 per cent of the 500 advisers surveyed view Asps as an important part of their post-retirement business and 25 per cent say they are very important. This compares with 54 per cent and 26 per cent who view conventional annuities as important and very important respectively and 36 per cent and 50 per cent for unsecured pensions. Only value protected annuities are held in higher esteem, with 59 per cent viewing them as important. The report also shows that 40 per cent of insurance company income-drawdown products now offer access to Asps despite Government restrictions. The report says: “The fact that Asps will also form an important part of their postretirement strategy should ring further alarm bells at the Treasury. With providers giving access to the facility and IFAs placing business here, it is vital that a final decision is made about the viability of this new market to all clients as soon as possible.”
Bankhall’s chief executive is a polyglot who writes his notes in Greek so no one can crib from him but he has an open and transparent approach to business and he feels that the appointed rep model lacks dignity and the directly authorised route was the next step. Interview by Samantha Shaw
The Financial Services Compensation Scheme is processing 501 claims against Berkeley Independent Advisers, 354 of which relate to endowments. Berry Birch & Noble Financial Planning (Weston) has now been declared in default by the FSCS, with five claims against the firm.
The FSA is proposing moves to cut out any preferential treatment of shareholders over with-profits policyholders when market value reductions are applied. The move could see policyholders benefit from redistribution that could boost their plans by up to 3 per cent. The FSA says it wants to make the proposed revision to the handbook after […]
Insurer Genworth Financial claims lenders will be able to help more first-time buyers get on the property ladder after the launch of its specialist mortgage insurance product. Genworth says the product will help mitigate the considerable risk associated with 100 per cent loan-to-value lending by covering lenders’ risk.
Ali Unwin, CTO & Fund Manager, Neptune 2016 was a weak year for technology IPOs – only 13 US venture-backed tech IPOs hit the market, in spite of fairly high public market valuations and investor appetite. Will 2017 be different, asks Neptune CTO & Fund manager Ali Unwin. Click here for article Important Information Investment risks Neptune […]
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
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