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Pru overhauls commission structure

Prudential has exited the front-end commission market for individual pensions and unti-linked bonds and will introduce factory gate pricing instead.

As part of the restructure of its business announced today, Pru will set a wholesale price and the distributor will add the commission separately through negotiation between the customer and adviser, rather than setting the retail price of products.

Pru will now operate three business units: wholesale, retail retirement and mature life and pensions.

Its strategy in wholesale retirement income is to participate in bulk and back book buyouts.

In retail retirement it will focus on savings and income for customers nearing or in retirement which includes annuities and equity release.

On the mature life and pensions side of the business, the life office says it is looking at internal cost cutting, further offshoring or outsourcing in a bid to cut costs.


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Identifying best-in-class UK stocks — Mark Martin, Neptune UK Opportunities Fund

FE Alpha Manager Mark Martin assumed management of the multi-cap UK Opportunities Fund at the beginning of February. As manager of the highly regarded UK Mid Cap Fund, Martin has begun restructuring the new portfolio to focus on our very best UK stock ideas from across the FTSE All-Share Index. In this video, update Martin addresses:

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