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ScotEq in distribution first with Lighthouse

Scottish Equitable is the first provider to sign a distribution agreement with Lighthouse Group’s retirement division.

Under the deal, ScotEq, whose parent Aegon owns 9.9 per cent of the listed IFA, will provide Lighthouse’s 550 RIs with straight-through processing, including valuations, on its e-commerce pension products, including stakeholder and personal pensions.

Lighthouse says its RIs will still have access to the whole of market, albeit without online capabilities.

Two other pension prov-iders will be signed up to LighthouseRetire in due course.

Fellow shareholders Friends Provident and Norwich Union have signed similar distribution deals with LighthouseProtect. Abbey, which is not a shareholder, has the same protection arrangement and Friends and Standard Life have signed up to LighthouseInvest.

A Lighthouse spokesman says: “We are using a number of headline providers on each program which will enable IFAs to do everything online with that particular provider. This does not stop IFAs using anyone else but the headline providers would not sign up if they were not going to get more business by doing so.”


Abbey made FSA threat after fee error

Abbey has been forced to apologise to Abacus Assurance Financial for threatening FSA action against the broker for the return of money that it had incorrectly paid to another company.


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