View more on these topics

Killik joins with Widows to offer stakeholder deal

Private client stockbroker Killik & Co. is offering its clients a stakeholder in conjunction with Scottish Widows.

Unlike most stakeholders, the product is not aimed at the Government&#39s target market of low to middle-earners, but at more sophisticated investors who want to use the new pension as a tax-efficient way of passing on wealth to children and grandchildren.

The annual management charge on the product is 0.8 per cent with contributions capped at £234 a month.

It says when a single one-off contribution of just £2,808, the maximum sum for non-earners, is grossed up by the Inland Revenue to £3,600 and given 7 per cent growth the pension pot would have grown to £128,000 by the time the child is 60 years old.

Partner David McMaster says: “The stakeholder rules mean adults can maximise investments for children. Helping to protect financial security means christening and birthday presents can be put to good use.

“We have partnered with Scottish Widows who will administer the funds while our brokers will be on hand to guide investors through the process.”


NU cross-subsidy for stakeholder

Norwich Union is to cross-subsidise a 5.75 per cent bonus rate on its with-profits stakeholder plan with funds from its traditional with-profits fund if the stakeholder version should underperform. Existing with-profits policyholders will not receive any reward for funding the returns but NU believes the chance of having to make a payout is slim. Industry […]

BBN loses its second chief exec in two months

Embattled national IFA Berry Birch & Noble has lost its second chief executive in a matter of months after Derek McLaughlan stepped down this week. McLaughlan had been chief executive for less than two months. Berkeley Independent chairman Cliff Lockyer will step in as acting chief executive. The news comes as the IFA&#39s holding company, […]

Get yourself noticed

LJ writes: I am 28, I have a good reputation and a strong network of professional contacts and happy clients but I find when I am networking in a male gathering, I disappear. I can be in the middle of a conversation and one man will start talking over me to another, or answers I […]

L&G launches 3 year fixed rate mortgage

Legal & General is launching a mortgage fixed at 5.25 per cent for three years for borrowing up to 75 per cent loan to value. After three years the loan returns to L&G&#39s standard variable rate, currently 6.35 per cent.The mortgage has flexible features including overpayments without redemption charges, underpayments and payment holidays. Although redemption […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm