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Protection business booming for Scottish Provident

The protection war is heating up again with Scottish Provident claiming it has seen a 70 to 80 per cent increase in business since September 11.

It says IFAs are turning to protection as investors shy away from turbulent markets. It believes there is a renewed interest by people concerned about protecting their families.

The firm says new applications have increased by 70 to 80 per cent in the last three months over the period last year.

But rivals are suggesting ScotProv has seen an increase because it repriced its product range in September to bring it back into line with the market.

Scot Prov head of product development Nick Kirwan says: “It has been an explosive wall of business heading in our direction. IFAs are turning in droves to selling protection.”

Skandia Life marketing manager Lynda Cox says: “I think it is probably because they have repriced their product. It was very uncompetitive at the beginning of the summer.”


Whitechurch bids to aid IFAs switching networks

Whitechurch Network is calling on the industry to set up a clearing house to handle commission payments owed to IFAs when they move networks.The network is calling on rivals and providers to collaborate in a thinktank to tackle delays faced by IFAs in getting commission paid through their old network when they move.Whitechurch points to […]

Quester – Quester VCT 5

Tuesday, December 4, 2001.Aim: Growth by investing in unquoted companies.Minimum investment: £3,000.Opening-closing date: December 4, 2001-April 3, 2002 for 2001/2002tax year, May 31, 2002 for 2002/2003 tax year.Charges: Subject to negotiation.Commission: Initial 3 per cent.Tel: 020 7227 3333.

Chelsea launches new bond

Chelsea Building Society is to launch the third issue of the Chelsea Guaranteed Bond, its branch based investment account, on December 8.The product guarantees to offer a rate, which will fall no lower than the Bank of England base rate before July 1, 2003.Other features of the new product are a current gross AER of […]

Threadneedle Investments – UK Corporate Bond Fund

Monday, December 3, 2001.Type: Oeic.Aim: Growth and income by investing in UK corporate bonds.Minimum investment: Lump sum £2,000.Investment split: 100 per cent in UK corporate bonds.Isa link: Yes.Pep transfers: Yes.Charges: Initial 3.75 per cent, annual 0.75 per cent.Commission: Initial 3 per cent, renewal 0.25 per cent.Tel: 0800 0684000.


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