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ScotEq bids to be among first for ABI quality mark

Scottish Equitable has spent more than £1m in a bid to get accreditation under the ABI&#39s Raising Standards initiative.

The company says it wants to ensure it is one of the first providers to become accredited under the new scheme. The first batch of companies get the quality mark in October.

ScotEq considers Raising Standards as the first rung on the ladder towards making the industry more consumer-friendly. It also believes the initiative will help IFAs as it will improve information, literature and illustrations for policyholders.

As part of its bid to gain accreditation, ScotEq is publishing its with-profits summary to IFAs and consumers, which explains how with-profits works and how bonuses are calculated.

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