Prudential is planning to launch a suite of pension products that will combine elements of equity release and the more flexible investment options around residential property that A-Day offers.The products will mark Pru’s re-entry into the personal pension market after a four-year absence and are due to be rolled out from the New Year in the run-up to April. Although still in development, the firm is planning a Sipp that can be used in conjunction with its equity-release products, enabling home- owners to extract the value of their main or second residence. This will then be used to fund the purchase of a buy-to-let property – effectively gearing up the portfolio – which will then be held in the Sipp. Pru expects fewer individuals to favour selling their main residences to their Sipps. The pension-based lifetime mortgage schemes will build on the equity-release products that Pru launched last month. Pru UK chief executive Mark Wood says: “We are working on ways of making the process as smooth as possible but it is too early to talk about specifics.” Roberts Clark director Jo Roberts says: “Property in Sipps is really tax-efficient but the BTL market is saturated at the moment.”
Aifa’s Stakes in the Ground initiative has come about in response to members’ continuing worries over retrospective action by the FSA and Financial Ombudsman Service, where there is a risk of current regulatory standards being applied to assess actions that were taken against a different economic and regulatory backdrop.
Standard Life is to target IFAs with an online banner campaign encouraging them to use online aggregation services that can collate valuations on clients complete portfolios instantly.
Australian multi-manager MLC has appointed La Salle Investment Management to run the global property element of five manager of manager portfolio funds available through Pivotal, its UK distribution arm for IFAs.
The managing director of financial marketing agency Teamspirit, Jo Parker has a passion for communication and believes the financial services industry is being hampered in getting its message across due to unclear and heavy-handed regulation, says Sam Shaw
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, discusses why it is difficult to keep a long-term perspective in short-term markets.
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