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Scottish Friendly launches Isa to IFA market

Scottish Friendly Assurance is launching its Isa range into the IFA market.


The friendly society is targeting 7,800 IFAs with a mailing providing details of its three products.


The society&#39s Isa was launched to its existing customers in June. Its maxi version consists of equity, cash and insurance components.


Its mini-Isas are only available on an equity or insurance basis.


The insurance element is based on its with-profits fund which is currently paying a bonus of 7.5 per cent.


The Isa has a 4 per cent initial charge and a 1 per cent annual management charge.


IFA commission is available at 3 per cent.


Scottish Friendly&#39s marketing manager Harry Gibb says: &#34Our research, together with early feedback from IFAs, shows that our insurance Isa in particular is likely to be very popular as a niche product with those IFA clients who want to take advantage of a tax free product but want the security as well.&#34

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