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L&G welcomes Government&#39s commitment to 1 per cent stakeholder charge

Legal & General has welcomed the Government&#39s continued commitment to the 1 per cent annual management charge on stakeholder pensions.

The life office says the idea of charging extra fees for additional advice is a sensible suggestion, but it believes the majority of people will only need basic stakeholder advice.

Responding to the latest Consultation Brief on Stakeholder Pensions, L&G&#39s pensions strategy director Adrian Boulding says: &#34The whole thinking behind stakeholder is the vast majority of people investing in a stakeholder pension should be able to do so without needing regulated, and therefore costly advice.&#34

&#34We believe 1 per cent is enough to provided the Government creates a simple regulatory framework of product regulation based on low-cost fit for purpose products where detailed individual advice is generally not needed.&#34


Exeter Investment Group appoints new chief exec

Fund managers Exeter Investment Group has appointed a Martin Kemp-Gee as its new chief executive.Kemp-Gee joins the group on September 1. He replace current chief executive Ian Henderson with effect from October 1.Kemp-Gee is currently a director of the Gerrard Group and has been the chairman of Greig Middleton since 1986.

FSA sets misselling review deadline

The FSA has set a final deadline of June 2002 for the remaining pensions misselling review cases to be cleared up, according to the Financial Times.The report says there are more than two million outstanding cases which are expected to be finished by this date, at a total cost to the industry of £11bn.The deadline […]

CD-Rom looks at portfolios

Keydata is to release a themed interactive CD-Rom focus ing on portfoliomanagement services.IFAs say it is difficult to track performance following Autif&#39s decisionto drop the fund of funds sector from its classifications.The CD-Rom will include video presentations from Gartmore, HendersonInvestors, Lazard, ABN-Amro, Martin Currie and Henry Cooke.Keydata launched its first CD-Rom in February and distributes […]

Abbey National launches television banking

Abbey National is investing £100m in a series of e-commerce initiatives over the next three years.The investment starts with television banking which is due to be launched in September. The service will allow customers to review products calculate loan repayments and book an appointment to see and advisor.Extra services will follow next year, allowing customers […]

Life cover for life

When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that waybecause before the arrival of RDR in 2013, that’s more or less exactly what they were. For advisers thinking […]


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