View more on these topics

ScotEq roadshow survey reveals little enthusiasm for IPAs

Individual pension acc ounts could prove to be an embarrassing white elephant for the Government, according to research by Scottish Equitable among IFAs.

Just 17 per cent of the 1,750 advisers surveyed by ScotEq at its nationwide roadshows in November believe the Government&#39s proposed pension account will provide a valuable addition.

IPAs are scheduled to be on the market alongside stakeholder pensions from April, but, with the absence of any major pension providers or investment houses prepared to confirm they will offer IPAs, the Government&#39s new vehicle looks set for a hollow launch.

The IFA reaction to IPAs is leading ScotEq to predict they will be a flop.

Pensions development director Stewart Ritchie says many product pro viders are not willing to commit to entering the IPA market because the Gov ernment has not released sufficient detail and the current plans seem to be ill-conceived.

Ritchie says: “We have had great difficulty in det ermining what IPAs add to the pension marketplace. Our research indicates IFAs think they will be a white elephant. Even if the regulations are in place to allow providers to offer IPAs, the litmus test will be whether there is any consumer demand.”


First Direct has Capital idea for phone-based IFA service

First Direct launches its telephone-based IFA service this week under the brand First Direct Capital. The internet and phone bank has so far invested £3m in the service, mainly meeting regulation, compliance and staff needs, while a further £3m is being spent on marketing. The bank has recruited 52 IFAs and plans to have 100 […]

Schroders is first fund firm to sign for stakeholder

Schroders has become the first major fund manager to register as a stakeholder pension provider. Schroders Pensions registered with the Occupational Pensions Regulatory Auth ority earlier this week, and will go live with its first product when stakeholder laun ches in April. The fund manager&#39s expansion into stakeholder follows its acquisition of Liberty International Pensions […]

Portal policies

The industry seems to have reached a position where there are a number of competing IFA portals all seeking to attract you away from the traditional dominance of The Exchange. As comparison quotation services start to mature, particularly in the term insurance market, it seems increasingly likely that IFAs will try out these new services. […]

Home is where the hearth is

Taking out a mortgage is becoming far more than just borrowing money to buy a house. Current account mortgages are expanding the bou ndaries and lenders want IFAs to come on board. There are now four main lenders which provide flexible mortgages on a current acc ount basis – Halifax&#39s Intell igent Finance, Virgin One, […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm