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Sandler: provider response

Skandia

The cost of redesigning products and administration will be considerable and contrary to the objective of simplifying the sales process, with consumers ultimately bearing the costs.

Scottish Widows

Protection should be added to the stakeholder suite of three products but a price cap will lead to market distortions.

Norwich Union Life

We have the size and scale to produce low-cost products efficiently and at a profit. With products available through a range of distribution channels, we are well placed to take a growing share of a growing market.

Virgin Money

We are surprised that Isas are not included in the core product suite and that the 1 per cent charge cap is not enforced. But we welcome the reliance on “Virgin-style” trackers. We are worried and concerned that with-profits policies appear to play such a significant role in his vision for the future.

Friends Provident

We welcome the proposals for simplification and improved clarity but stakeholder pension experience shows that the 1 per cent charge cap may restrict the uptake of the new products.

Standard Life

We welcome the report but the proposals to make advice available more widely should not get in the way of provision of quality advice.

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