Liverpool Victoria is targeting the IFA market with a with-profits tax-free savings plan.
It is the second product from the friendly society's recently launched IFA
division.
The 10-year plan is for investors seeking a regular savings vehicle for
the long term. It offers a choice of regular savings amounts, regular
bonuses and a guaranteed minimum death benefit.
Liverpool Victoria wants to widen its distribution from 90 salespeople for
general insurance, life and pensions by selling through big IFA firms.
A range of protection products is expected to follow.
Forty IFAs from Liverpool Victoria subsidiary Frizzell defected to Towry
Law earlier this year. The friendly society's direct salesforce has also
suffered difficulties over the last two years and numbers have fallen from
a high of 300.
Liverpool Victoria anticipates IFAs making up 50 per cent of its total
business written within a year.
View more on these topicsNews
IFAs miss domain event as addresses go quick
IFAs appear to be failing to embrace the technological revolution, leadingthem to miss out on scooping some of the best internet address namesavailable.Many of the top domain names which would have been ideal for IFA websiteshave fallen into the hands of speculators looking to cash in by sellingthem on.Among the potential addresses already taken are […]
Conference meets with MPs to push LTC cause
The Continuing Care Conference, an umbrella group of insurers, charitiesand health providers, has met with MPs and peers in a bid to keep long-termcare on the political agenda.The CCC told the all-party working group on older people it is anxious forthe Government to address the issue as it is a year since the royalcommission delivered […]
Aifa's 80/20 vision
When the new single trade body for IFAs was set up last September, itsdream was to give the community a united voice. So how does directorgeneral Paul Smee respond to criticism that it cannot hope to represent theviews both of small and big IFA firms? 'If you like what it is doing 80 percent of […]
Low-tax spread
I am a director of a leading property company and my current shareholdingin the business is valued at £243,000. I have no other equity investmentsof any significance. However, I am concerned at having such a highproportion of wealth tied up in the fortunes of just one company. Could youexplain to me how I could create […]
Tapering of annual allowance – adjusted and threshold income
The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing. Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016. Our previous article Tapering of annual allowance […]
Newsletter
News and expert analysis straight to your inbox
Sign up
Pensions dashboard petition surpasses 14,000 supporters
Close to 15,000 people have pushed back against alleged government plans to shelve the pensions dashboard by signing a petition. This week it was reported secretary of state for work and pensions Esther McVey’s was moving to scrap the project. The petition, hosted by 38degrees, has collected 14,377 of a target 15,000 signatures in just […]
5
Tim Sargisson: Why the tables are turning for small advice firms
Back in May, I wrote about the pressures building in advice firms due to a shortage of highly skilled staff and the consequent costs in recruiting. With Apfa research finding profits from retail investment advice fell 16 per cent between 2014 and 2016, I thought businesses faced a worrying future. But last month’s FCA Data […]
Trustee brought in to oversee defunct pension firm’s schemes
The Pensions Regulator has appointed an independent trustee for the 15 schemes linked to the now shuttered Fast Pensions. Fast Pensions and five connected companies were wound up at the High Court in May. According to an Insolvency Service statement, it is estimated around 520 people were persuaded to transfer a total of at least […]