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IMA sector changes

The Investment Management Association has changed the name of the protected/guaranteed sector to the protected sector and revised its definition. The new sector will be flagged under two headings – capital protection at maturity and protection/ floor funds from December 1.

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The FSA is consulting on planned changes to its fee structure that will see minimum fees for IFAs nearly halve from £1,850 to £1,000. Variable fees fall for 56 per cent of advisers and only rise for 1 per cent and there is an easing of levies for firms that operate across fee blocks.

Partnership seeks LTC tied deals

Partnership is looking for tied distribution of its long-term care products and says it would “bite the hand off” any banks offering distribution arrangements. Partnership currently has 80 per cent market share in the immediate needs annuity space which are used to fund long-term care. Axa is another serious player but there are only around […]

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