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Savings club aims to offer exclusive deals for advisers

eMoneyfacts has launched what it says is the first intermediary specialist savings distributor allowing advisers to earn commission on exclusive savings products.

The eMoneyfacts Savings Club will allow intermediaries to arrange savings products for their clients and receive commission. The club launched this week and is open to regulated users of the adviser portal.

The club will initially operate a pilot with Yorkshire to assess the appetite of intermediaries to write savings business with the Yorkshire, offering a two-year fixed-rate bond product with an interest rate of 3.1 per cent and the option of monthly or annual interest payments.

Head of eMoneyfacts Ed Payne says the new club is in advanced discussions with other providers. He says: “We would welcome discussions with other providers interested in supporting the club, supporting intermediaries and giving customers the chance to do business with them via intermediaries”

London & Country mortgage expert David Hollingworth says: “It is hard to get savings products to the market right now, so advisers will be open to any idea that gives them access to new products and new revenues.”


Remix required for clients

Skandia says advisers should consider repackaging client portfolios for optimum tax-efficiency in the present ultra-low-interest-rate environment.

Fitch downgrades Aegon

Rating agency Fitch has downgraded Aegon after the insurer reported expected fourth quarter losses of £1.08bn.

Friends ends talks on F&C AM sale

Friends Provident has pulled out of discussions over the potential sale of F&C Asset Management. After talking to a number of interested parties, Friends says it now intends to divest its holding to shareholders.

Twittering with excitement

At last, progress appears to have been made. The FSA is now looking at a pragmatic solution to the QCA level 4 dilemma. Time is being spent evaluating the core functions of the role of an adviser and ensuring that there are appropriate qualifications to meet these standards.


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