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Ritchie claims IPA is little more than marketing concept

Scottish Equitable is claiming the Government&#39s Individual Pension Account

offers nothing new to consumers and will further complicate stakeholder.

Director of pensions development Stewart Ritchie says: “I have no problem

with this technical change to legislation to create a level playing field

for providers to compete on the same basis as life offices.

“But the Treasury has told me this is just 1 per cent of what IPAs are

about. The other 99 per cent is a marketing concept – a concept to capture

the public&#39s imagination.

“IPAs are an additional confusion for stakeholder target groups. The

Government says they are simplifying things but in fact they are

complicating them.”

Marketing director Ken Hogg fears investors couldbe confused into seeing

the IPA as a new type of pension plan rather than an investment wrapper

placed around existing pension products or stakeholder.

He says the IPA&#39s flexibility and transparency can already be found in

existing group and personal pension plans, especially Sipps.

Hogg says investing in unit and investment trusts through an IPA should

not be undertaken without financial advice. The wrapper arrangement is also

likely to be more expensive than normal pension arrangements, he says.


FSA mystery shop probes stakeholder

The FSA is mystery shopping IFAs and providers to check pre-stakeholderplans are complying with RU64 and advertising does not mislead consumers.The regulator will be looking at product structure and how plans areadvertised. Sources believe not all pre-stakeholder plans measure up to theFSA&#39s criteria which stipulates consumers must not be penalised if theytransfer to a stakeholder.The […]

IFA claims Friends is poaching his clients

A Swansea IFA says Friends Provident is trying to poach his clients againdespite his demand that the company takes them off its mailing lists.Hartley Greatbatch & Co IFA Keith Lewis is angry that one of his clientshas been invited to one of Friends&#39 inheritance seminars although he askedthe company to remove his client&#39s name after […]

Birmingham Midshires is aiming to capitalise on fears

Birmingham Midshires is aiming to capitalise on fears investors may have about future stockmarket drops by introducing the Guaranteed Investment Account.It is designed for investors who are looking for stock market growth but who are wary about stockmarket falls similar to those seen recently. The product is a two-year guaranteed equity bond that tracks the […]

The Govett European technology fund from AIB Govett

The Govett European technology fund from AIB Govett is an open ended investment company (Oeic) intended for experienced investors, who want to get some exposure to the technology market.The fund aims to provide growth by investing in European companies that use or develop computer software and hardware, information technology or telecommunications.Govett believes that, despite the […]

Show me the money – earnings are central to performance in Europe

Equity markets globally currently remain vulnerable to sharp shifts in sentiment caused by either unexpected or unwelcome outcomes in key upcoming political events (the US and German elections, Brexit and the Italian referendum). These top-down influences, combined with the current low global growth environment, will likely lead to broadly directionless markets, and prolong the current low beta return environment. We do, though, […]


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