View more on these topics

Saltr charges may be cut to attract smaller brands

The Pensions Protection Inv-estments Accreditation Board says it is considering introducing a lower charging bracket for Saltr accreditation in a bid to ensure that smaller brands chase the quality mark.

The PPIAB, the independent body responsible for awarding life offices the Raising Standards quality mark, says it is considering lowering the bar on charges to encourage smaller life offices, particularly friendly societies, to think seriously about joining the initiative.

Some smaller life offices have cited the initial fee plus a percentahge of turnover for seeking accreditation among factors which act as a barrier to applying for the Saltr mark while IFAs are concerned these costs might act to discriminate against smaller brands.

Around five bigger brands, including Scottish Equitable and CIS, are currently seeking accreditation. The PPIAB has confirmed that the first brands which have successfully made the grade will be unveiled on October 16.

Tunbridge Wells Equitable Friendly Society chief executive David White says: “The initial fees are one part of a whole package of operating costs which we are not convinced will deliver the inc-rease in public confidence that many are hoping for.

“Twefs already does much of what Raising Standards is looking to achieve and has had a constructive dialogue with Saltr.”

Klonowski & Co proprietor Francis Klonowski says: “There has to be a way of including and comparing different products from smaller brands as small players often offer good products for specific purposes.”

PPIAB chief executive John Cox says: “We might consider a smaller category with smaller costs for brands, including friendly societies, but we don&#39t want larger brands subsidising smaller brands. Many brands see the costs associated with gaining accreditation as more of an investment in infrastructure, management processes and product design.”


Zurich Financial Services appoints new managing director

Zurich Financial Services has appointed Jim Reeve as the new managing director of Zifa, succeeding Jerry Grayburn who retired in April this year.Reeve was previously Zifa marketing director and has been with the Zurich group for 22 years. He is a former Eagle Star IFA sales and marketing director. Reeve has pledged to continue growing […]

Come and see us first, urge IFAs

IFAs are urging Ron Sandler to visit them in person before making any assumptions about their role in the market. Advisers say if Sandler wants to get a true understanding of the industry, he must go beyond industry groups and talk to the individuals at the ground level who are advising consumers. Sandler has been […]

House price rises &#39unsustainable&#39

House prices are rising at an unsustainable rate but show no signs of slowing down, Nationwide Building Society is warning. The lender’s latest house price index shows property prices have shot up 10.9 per cent since last year, rising 1 per cent in July. Although last month’s figure marks a slowdown from June’s growth of […]

Advisers sign up to sell online benefits package

Online employee benefits software specialist 4th Contact has signed partnerships with 21 IFAs to promote its service, which allows employees to keep track of their benefit packages online. Working Wealth is designed to cut out many of the administrative costs which it is argued prevent small and medium-sized companies from offering flexible benefits to their […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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