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Ingledew lambasts wrap deals

Berkeley Berry Birch group chief executive Stephen Ingledew said at Money Marketing Live that none of the wrap products presently available in the UK is a true wrap product.

He said the wave of wraps stems from the success of such products in the US and Australia but he said so far no one has come up with anything like these products.

Ingledew believes it will be some time before a true wrap arrives in the UK.

Ingledew criticised providers and the Government for putting a stranglehold on IFAs by developing unusable products.

He said: “Look at what the Government has invented – stakeholder pensions, the Sandler suite, and now 30-year mortgages. How can it or providers criticise us for not delivering when it can&#39t deliver itself?”

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