View more on these topics

MetLife cuts annual fee for trustee plan clients

MetLife is reducing the ann- ual management charge of its trustee investment plan from 0.95 per cent to 0.5 per cent for all new and existing customers.

MetLife moved into the UK market a year ago and says it is now aiming to expand further in the corporate market.

Following the charge change, the company will offer a 95 per cent allocation rate with no exit penalties and 5.5 per cent initial commission on its fully access- ible version.

For advisers with different commission requirements, the product allows sacrifice of the initial commission for additional allocation or conversion of the initial commission into trail commission.

Alternatively, if the client would prefer higher allocation, the maximum allocation version of the product can be used with an addit- ional 5 per cent allocation for an additional 1 per cent a year charge for five years.

MetLife UK head of tech- nical services Peter Carter says: “The Tip market has seen steady growth in the past year as increased stockmarket volatility has demonstrated the need for products that provide valuable guarantees.

“With increasing awareness and understanding of Sipps, we fully expect the market for convenient and efficient investment products such as Tips to continue growing in popularity.

“Our price reduction is a significant move which further increases the competitiveness of our products for new customers and is a reward for existing customers.”


Sipp building

I have several personal pensions, some separate share investments and an investment property. How can I use a self-invested personal pension to invest in the shares and the property?

Firm fined for misleading FSA

The FSA has fined Blake Independent Financial Services £31,500 for failing to maintain adequate capital and provid- ing misleading financial information.The regulator found that the adviser failed to put in place subordinate loans before it became authorised in October 2003. It also failed to put in place a further subordinated loan in 2005 required by […]

Growing potential

Market turmoil seems to be having an interesting impact on clients. Demand for the middle ground of investment, as represented by core developed market equity funds, has generally disappeared. Clients seem to be at one of two extremes. Cash or very cautious total return funds are at one end and racy aggressive funds, especially Russia, […]


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 advice.

    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