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Sandler launchpad for Asda&#39s entry into market

Supermarket giant Asda is planning to launch into the UK retail financial services market on the back of Ron Sandler&#39s review.

While not giving any details as to when it hopes to launch or with what products, the grocery chain says Sandler&#39s recommendation of a “stakeholder” family of products has provided motivation to build a presence in the market.

Asda will go head to head with rivals Tesco and Sainsbury which both have a financial services presence.

Sandler told the Government that a possible solution to getting more people to save is the launch of a series of safe haven products not requiring advice or regulation which he says can literally be bought off the shelf.

Asda&#39s decision appears to confirm Sandler&#39s belief that there is a market for these simple-style products. While it has not gone as far as saying it would adopt these products if they came to market, the announcement must be considered timely.

Tesco Personal Finance and Sainsbury&#39s Bank have broadly welcomed the rep-ort, refusing to comment on safe haven products, although Sainsbury&#39s has no intention of launching any investment products at this time.

An Asda spokeswoman says: “We do plan to launch into the selling of financial products. The development of that sector is still ongoing. We are very aware there is a gap we believe we could fill. We hope we could offer something innovative to the market.”


Scepticism on review&#39s goals – Chartwell

Chartwell Investment Management is sceptical about whether the Sandler review will achieve its goals of empowering consumers and encouraging people on low incomes to save.It says standardised products sold without advice overlook the fact that investors have diverse objectives and risk profiles and are more likely to attract sophisticated investors than low-income consumers with limited […]

New Star funds select opportunties

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Inside Edge

Like me, you are probably a bit fed up reading about the proposed changes to polarisation as announced in CP121. But you have to admit that it is one of the key issues facing us all. There is one area, however, that seems to have received surprisingly limited coverage – the proposed change in the […]

West Bromwich Building Society – Combined Portfolio Plus Bonus Bond

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Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


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