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Oakwood could use packagers

The Oakwood Group is likely to use packagers despite Michael Bolton’s outspoken criticism of the market.

MBAC Consulting director Alan Cleary, who is expected to form part of Oakwood’s senior team, anticipates that the new firm will use packagers to add value and help with distribution.

Cleary says: “I would have thought that Oakwood will deal with selected groups of packagers to bring products to the market because a small part of the market still adds value.”

The news comes after claims by Bolton, who is likely to be Oakwood’s head, that the packager market has never been in such a bad state.

On July 10, Oakwood is expected to reveal its brand name and launch date, which is thought to be in September.


Tories aim to show Sipp complexity

The Tories have tabled amendments to the Finance Bill to change the definition of residential property in a Sipp in a bid to highlight what they claim is the complexity of the new regime.

Norwich Union in dual pension term push

Norwich Union is lining up a twin-pronged assault on the pension term assurance market with the launch of life insurance with tax relief and mortgage life insurance with tax relief plans. The policies will follow the same product designs as its level and decreasing term products while offering tax relief at the client’s taxable rate. […]

Credit Agricole looking at takeover bid for A&L

French bank Credit Agricole has confirmed it is considering a takeover bid for Alliance & Leicester. The move has been welcomed by brokers, who believe A&L needs investment so it can challenge HBOS at the top of the mortgage market. CA says it is at the early stages of evaluating a possible takeover. Abbey owner […]


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