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MI set to branch out along the third way

Merchant Investors is considering bringing out a third-way annuity product to compete with existing providers.

The Hartford, MetLife and Lincoln Financial have all launched third-way annuities but some industry commentators have criticised them for being expensive and not transparent on charges.

Merchant Investors head of sales and marketing Richard Ellis says he can see an opportunity to launch a different type of third-way product that would be chea-per and more transparent.

Ellis says: “We are looking at third-way annuities but we want to sit back and see how the market does. This first wave of products has tried to be too close to the traditional annuity product rather than nearer to an income drawdown product. It might be better to approach it from the income drawdown side instead.”

The specialist insurance company recently launched its OneSipp product which it says helped sales in January to grow by 300 per cent compared with the same period in 2007.


Firm in liquidation remains on FSA register

Concerns have arisen over consumer protection after a Birmingham IFA remained on the FSA register despite having gone into liquidation last September.Stourbridge-based Paul Davies & Associates appointed corporate recovery firm Butcher Woods as liquidator last September but is still listed as authorised on the FSA register, with no changes to its permissions.The FSA says it […]

Blue Sky next phase for income product

Blue Sky Asset Management is launching a second tranche of its 10 per cent protected income plan. The firm says its second tranche is due to the increased demand for structured approach to 10 per cent a year on a six-year term, backed by capital protection at maturity. Investors can also choose a 2.45 quarterly […]

Armac returns as multi-strategy fund

Swiss hedge fund manager Insch Capital Management is relaunching a long-established hedge funds as a multi-strategy fund of hedge funds.Armac was set up in 1974 by David Anderson, who became chairman of ED&F Man, and Mike Collins, chairman of Bermuda-based Argonaut.They will serve on the boards of the new fund and the investment manager.At its […]


Guide: 10 required letters — what to send, to whom and when?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.


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