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Scottish Legal Life sets £2,000 minimum for mutuality bond

Scottish Legal Life is signal ling its commitment to mutuality by launching a mutual investment bond.

The bond has an introductory offer of 1 per cent inc rea sed allocation until February 28, boosting the rate to 97 per cent on investments of less than £5,000.

The introductory rate inc reases to 98 per cent for inv estments of £5,001 to £9,999, 99 per cent for £10,000 to £49,999 and 100 per cent for investments above £50,000.

Minimum inv est ment is just £2,000. The bond has no bid/offer spread and an annual charge of 1 per cent. Investors can choose bet ween a unitised with-profits or managed fund.

Marketing manager Jamie Nicoll says: “We remain committed to mutuality and are delighted to be launching our new mutual investment bond. The bond offers a range of benefits including a regular withdrawal option, a choice of investment funds, plus the flexibility to switch between funds to maximise returns.”


Two life offices fined £350,000 by PIA

United Friendly Insurance and Refuge Assurance have each been fined £350,000 by the PIA for endowment breaches. The fines relate to a number of failings dealing with sales of with-profits endowments savings policies. The regulator found they were not taking into account of the customer&#39s stated savings objectives, did not ensure the contract was affordable […]

Clerical Medical – With Profits Bond

Friday, 19th January 2001.Aim: Growth and income by investing in Clerical Medical&#39s with-profits fund.Minimum investment: £5,000.Bonus rates: 4.7 per cent.Allocation rates: 100 per cent.Charges: Annual 1.3 per cent.Commission: Either initial 5.25 per cent, initial 4.125 per cent renewal 0.25 per cent or initial 3 per cent renewal 0.5 per cent.Tel: 0800 779090. 

Assureweb supports seven major product providers

DBS Management, the financial services business support group, has announced that AssureWeb, its e-commerce portal for IFAs, now supports seven major product providers. Over 16,000 IFAs have recently been sent free copies of the new business system, which runs offline, and links electronically to the AssureWeb online portal. The new software allows IFAs to complete […]

Singer & Friedlander credit ratings increased

The financial ratings for Singer & Friedlander Group and its principal banking subsidiary, Singer & Friedlander Limited have been raised by Fitch IBCA, the independent rating specialists. The short and long term ratings for S&FG and S&FL have been increased to F1 and A from F2 and A- respectively. Fitch IBCA defines a bank rated […]


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