View more on these topics

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.

Recommended

By the rule

Keeping RU64 will make advisers feel that the finger is pointed at them again.

Abbey on road to Santander branding

The Abbey brand looks as endangered as the red squirrels used in its advertising after its Spanish parent confirmed it wants to operate all of its businesses under the Santander banner by the end of the year.Santander executive vice-president Juan Manuel Cendoya says the unifying of the brands will be tied into the bank’s 150th […]

My Beautiful Wrap – Change of emphasis

The introduction of wrap to our business started with a fundamental rethink of our business model and client service proposition.We concluded that we wanted to move away from the old transactional, commission-led, product-selling approach to a more consultative, proactive, review-driven advisory relationship with clients.We recognised that a fully functioning open-architecture platform would be necessary and […]

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:

– Themes informing the UK Opportunities Fund
– The multi-cap structure of the fund
– UK equity valuations

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com