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MGM Advantage enhances annuities team

MGM Advantage, the recently re-branded retirement income specialist is expanding its designs for retirement team.

The separate operating division, which will be led by Craig Fazzini-Jones, previously of HBOS’s annuity brokerage offers enhanced annuities across a range of different health conditions. Fazzini-Jones was senior director for Retail Strategy in Europe and North America and has experience in the life and pensions and retail banking industry with specialist credentials in annuities.

Four new joiners are also joining the design for retirement team. Eyeedul Haque is appointed as proposition manager, joining from Partnership Assurance. Aston Goodey is joining as sales director at the end of the summer from Prudential. Wendy Dines and Mark Hurrell both join as national account managers and will report to Aston Goodey.

Commenting on the new team, MGM Advantage designs for retirement head Craig Fazzini-Jones says: “We intend to become one of the top three providers of enhanced annuities in the shortest possible time and we now have a heavy-hitting team in place to help us achieve this goal.”

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Lasting relationship

That meant, broadly, that gains made under UK and offshore investment life insurance contracts will be taxed as non-trading credits under the loan rela-tionship rules. The original position has changed in a number of important areas. Perhaps the most important is that before the changes, all life policies effected by a company before March 14, 1989 (and which had not been subsequently enhanced) were outside the chargeable events legislation and would, in effect, produce a tax-free return for the firm.

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Multi-asset is one of the new buzz words in the industry. Is it another marketing wheeze or do the funds represent a real solution to replace with-profits funds in client portfolios?

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