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.”
Lacomp Investment Management
Lacomp British Enterprise EIS Fund 7
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.
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 […]
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 […]
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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Advisers are being targeted by claims management companies offering payment for referring complaints related to defined benefit pension transfers. Capital Asset Management chief executive Alan Smith was sent a letter this month from Birkenhead-based firm Pension Justice, which claims to be a “missold pension compensation specialist”. The letter asks advisers if they have seen clients […]
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Aegon has called on the government to double the tax exemption for employer-arranged pension advice. A report from Aegon and the CBI in March found 56 per cent of employers think the government should extend the tax exemption for employer-provided pension advice to more than £500. Now Aegon wants to see that exemption doubled to […]