Liverpool Victoria is piloting a scheme to sell its pension term assurance products to existing customers via dir- ect mail.
The mutual will offer PTA to 45,000 of its existing non-IFA customers in mailouts starting on September 23. Customers will be able to respond to the mailshots by phone and will be asked whether they want to buy a policy on an execution-only basis or with advice. If the pilot scheme proves successful, LivVic will ext- end the direct-mail service to its other non-IFA existing customers. But Lifesearch head of protection strategy Kevin Carr says this is a contradictory move for LivVic and he is concerned that the literature will steer customers away from advice and towards buying on an execution-only basis. LivVic recently announced it was adding Red Arc’s services to its critical-illness policies and Carr thinks that this is at odds with the firm roll-ing out a direct PTA offering. Aegon Scottish Equitable head of marketing protection Rod McKie says: “We have a strong preference for advice because it is a more complicated product than other life policies.” Liverpool Victoria director of intermediary sales Stuart Tragheim says: “We are probably one of the bigg- est providers that use direct mail in the UK so it is not new for us to be doing this. We will deal with customers in whatever way they choose to be dealt with.”View more on these topicsNews
Lacomp Investment Management – Lacomp British Enterprise EIS Fund 7
Lacomp Investment Management
Lacomp British Enterprise EIS Fund 7
A hollow victory
Given a straight choice, most of us will generally back David against Goliath. The little man, bravely fighting back against corporate might, automatically garners sympathy from people, especially IFAs, many of whom tend to see themselves in that same role.
Paternoster lands 70 buyout deals
Defined-benefit consolidator Paternoster says it has 70 scheme buyout deals in the pipeline, amounting to over £10bn in liabilities. Chief executive Mark Wood says the start-up firm, which signed its first deal last month, will reveal its contract deals in the next six weeks after the changes have been communicated to scheme members. Wood says […]
DB transfers risk losing enhanced protection
Savers transferring out of defined-benefit pension schemes run the risk of losing their enhanced protection, according to Standard Life. Since A-Day, the most common ways of members losing enhanced protection, where a fund which exceeds the lifetime allowance is protected from a 55 per cent tax charge, is if members make a contribution to a […]
RLAM caters to broad range of investors with Multi Asset Funds
In this brief video, Trevor Greetham, Head of Multi Asset at Royal London Asset Management (RLAM), introduces the Global Multi Asset Portfolios (GMAPs), touching on the distinctive investment approach used to manage asset allocation across the funds.
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Almary Green eyes merger with Norwich IFA
Almary Green, the advice firm led by industry veteran Carl Lamb, is in sale talks with Smith and Pinching Financial Services, Money Marketing understands. One source tells Money Marketing Almary Green staff have visited the Smith and Pinching offices, and that there have been discussions around a merged firm being floated on AIM. The Norwich-based […]
Lions, bees, bulls and bears: The Wells Street Journal
A weekly account of the curious goings-on in the world of financial services Locked out While WSJ correspondents were kept very busy at Money Marketing Interactive in Harrogate last week, there was still plenty of time spent in the bar with industry friends. So came about the story of Aegon director of new business, Martin […]
FCA eyes 40 firms in adviser recruitment and training probe
The FCA is analysing information from 40 firms about their adviser recruitment processes and what quality checks are in place on the advice they give. Earlier this year, Money Marketing revealed that the FCA sent letters to a sample of firms asking about training, competence and hiring records for staff. A Freedom of Information Act request […]